Kendal-based creative paper products and advanced materials firm James Cropper plc announced that it is searching for a new “Managing Director for Technical Fibres and Future Energy.”

The firm said in a stock exchange statement: “Further to the company’s announcement on 24 November 2023, James Gravestock, Managing Director for Technical Fibres and Future Energy, will step down from the board and leave the company on 31 January 2024 following completion of a handover of responsibilities on an interim basis to Steve Adams, chief executive officer, and other members of the company’s executive leadership.

“As previously announced, a process to appoint a permanent successor to James Gravestock is underway.

“The company will provide further updates in due course.”

James Cropper said on November 24 that Gravestock was standing down “to pursue another opportunity outside the company.”

In August, Cropper reported a 24% increase in revenue to £129.7 million and a 53% drop in profit before tax to £1.3 million “due to an increase in net finance costs and exceptional costs.”