Communications equipment designer Codan Limited (ASX:CDA) has announced that its CEO, Mike Heard, has decided to retire from the company in November.
Heard will be leaving Codan after 19 years at the helm. He will be succeeded by Donald McGurk, who has been a Codan executive for over 9 years and currently oversees the HF radio division.
The board praised Heard for his role in building profits from $20 million to nearly $180 million during his tenure.
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