Cashbuild CEO set for 2012 retirement

"Until his retirement he intends scaling down his activities by fully utilising his leave entitlement," the group said.

"The Company has always had a succession plan in place and will now kick-start an accelerated process whereby all potential and aspiring internal candidates will be given the opportunity to gain extra experience and to broaden their exposure, if required," Cashbuild said, adding that it hoped to make a final choice of chief executive by December 2011.

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