Luxfer Holdings PLC (Luxfer Group, NYSE: LXFR) announced today that Brian Purves, the company's chief executive officer for the last 15 years, has informed the board of directors of his intention to retire during the course of 2017. At the board's request, Mr. Purves has agreed to remain in his current role until his successor is appointed. The company is working to ensure a smooth transition, and the nominations committee of the board has appointed an external advisor to consider suitable candidates. Mr. Purves was a member of the two-man buy-in team that led the private equity-funded purchase of certain downstream assets from British Alcan in 1996, forming a new company initially called British Aluminium. Since that date, the re-named Luxfer Group has been significantly re-shaped and put on a sound financial footing, culminating in its listing on the NYSE in October 2012. Mr. Purves said: "Whilst I continue to relish the challenge of running such a diverse and global group of businesses, after over 20 years with the company and 15 years as CEO, I feel that the time is right to hand over the reins. The company has a bright future, with many new products in the pipeline, and I am confident that we will make a great success of them, but coming up to 40 years of continuous full-on work in manufacturing industry, I am looking forward to being able reduce the pace of life a little." Joseph Bonn, the non-executive chairman, said: "Brian has managed the business through some very challenging times, and he has played the major role in shaping the successful listed group that we have today. The board is grateful for his invaluable contribution to the business over the last 20 years." The company currently expects to provide an update on the transition plan in early 2017.