SILK Logistics CEO and managing director Brendan Boyd has stepped from his executive role at the ASX-listed company for medical reasons.

The company on Wednesday (22 May) announced Mr Boyd’s decision to retire, effective that day.

The board also announced John Sood as Mr Boyd’s successor. Mr Sood is the current executive director and chief customer officer of Silk Logistics. He is also a co-founder of the company.

Mr Sood’s appointment as managing director and CEO is effective 22 May 2024.

Meanwhile, Mr Boyd will transition to a non-executive director role to continue supporting and advising the company.

“On behalf of the board, I would like to extend our appreciation to Brendan for his exemplary service to this company over the past 13 years,” Silk chair Terry Sinclair said.

“As co-founder and CEO, he successfully guided the company through a prolonged period of growth and transformation.

“We will continue to value and benefit from Brendan’s ongoing presence and the depth of experience and the insights that he is able to provide as a non-executive director.”

Mr Sinclair said Mr Boyd’s early retirement triggered the board’s established succession plan.

“John brings exceptional sector experience, having worked alongside Brendan through all the company’s key milestones from the company’s inception, including its 2021 initial public officer.

“Silk’s priority remains the continued growth and success of the company and our succession plan ensures our strong leadership team will continue to guide the company in order to meet its strategic goals.”