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Strix Group's CEO Mark Bartlett to leave by May 2026 as company cuts debt and shifts production amid divisional challenges.
Strix Group PLC announced CEO Mark Bartlett will leave by May 29, 2026, as the company addresses a slowdown in its Controls division and works to reduce net debt to 1.5x EBITDA within 12–18 months.
Despite challenges from US tariffs and a weak dollar, the Controls division showed improvement in Q3 and Q4 2025, while Billi and Consumer Goods divisions delivered strong growth.
The company is cutting Chinese production, securing £2 million in debt factoring, and repaying a £14 million loan, aiming to lower net debt from £70.3 million to £64 million by March 2026.
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El CEO de Strix Group, Mark Bartlett, se irá en mayo de 2026 a medida que la compañía reduce la deuda y cambia la producción en medio de desafíos divisionales.