Hudaco Industries Limited announced that Stephen Connelly, who has been chief executive of Hudaco for 22 years, will retire as an executive director on 30 June 2014. Graham Dunford, currently chief executive of the Bearing and Power Transmission division and who joined Hudaco in 2001, has been appointed as chief executive with effect from 1 July 2014. Mr. Connelly will serve as a consultant until the end of the 2014 financial year in order to ensure a smooth transition and will remain on the board as a non-executive director thereafter.