Adams joined the group in 2017 as managing director of its Paper division, and took over as CEO in August 2022.

He intends to retire and step down in early 2025.

James Cropper said that following a rigorous search process it had appointed his successor – David Stirling will join as CEO designate in January and will become CEO after a handover period with Adams.

Stirling is a chartered accountant and was most recently the long-serving CEO at £127m turnover listed cellular materials group Zotefoams PLC. He worked at the company for 27 years, initially joining as finance director.

He stepped down in May and has been working on consultancy projects since.

Stirling has also been a non-executive director at Macfarlane Group since the beginning of this year.

James Cropper non-executive chair Mark Cropper thanked Adams for his contribution to the group and for helming the PLC during a challenging period. He said he was delighted to welcome Stirling to the business.

Cropper commented: “David has a proven track-record for delivering growth in materials businesses by developing new products and entering new markets across a variety of end-uses on an international scale. 

“I am confident that his strong leadership and strategic outlook will harness the strength and value of our products and services across our global markets and diverse customer base.”

James Cropper filed a pre-tax loss of £5.3m in its most recent financial year to 30 March, when sales slipped to £103m from £129.7m.

However, in a recent trading update it said it had made a positive start to its new financial year.

The business, which makes high-end paper and packaging materials and has a growing advanced technical materials wing, will celebrate its 180th anniversary in 2025.

James Cropper’s share price went up by 8%, or 15.99p, on the news to 215.99p (52-week high: 828p, low: 180p.)