John Wight has stepped down from the board of directors as group chairman of BF&M Limited, effective immediately.

Acting chairman Tony Joaquin said: “On behalf of the entire board, I would like to thank John for his tireless service and dedication to BF&M across a variety of leadership roles over the past 30 years, including chairman and CEO.

“We wish John all the best in his future endeavours as BF&M continues to move forward under Abigail Clifford’s leadership."

Ms Clifford, group president and chief executive officer, said: “Echoing Tony’s thoughts, we appreciate all of John’s contributions and, personally, I would like to thank John for all his guidance as we completed our CEO transition this year.

“BF&M has a strong foundation, and our focus remains on creating value for shareholders and continuing to provide excellent products and service for customers, a great place to work for employees, and support for our community.”

Mr Wight stated: “It has been an honour to serve as chairman of BF&M and I want to thank the directors, management team and all employees for their tremendous support of BF&M throughout my time with the company.”