Hills Limited has announced that David Lenz, chief executive officer and managing director, has advised the board of his intention to retire after almost 5 years in the role.

The board thanked David Lenz for his service to the company, one of Australia’s largest security distribution businesses, first as chief operating officer and then from September 2016 as CEO and managing director. Lenz will remain with the company until a new CEO is appointed to ensure a smooth and orderly transition to a new CEO in the next financial year.

“David has overseen a significant reduction in Hills cost structure, the turnaround of our health business to a profitable growth engine for the company, and the streamlining of our distribution business, which included the successful divestment of underperforming businesses,” said Hills chairman Jennifer Hill-Ling.

Until his departure, Lenz will be working with the board to maximise returns in the second half of FY21.

“It has been a privilege to lead Hills over the past 5 years as we have worked to transform the company,” Lenz said. “Notwithstanding the issues and challenges the business has experienced during the COVID-19 pandemic, it is well positioned to drive future growth with a sharpened focus and a strong balance sheet.”