(Reuters) - British sausage-skin maker Devro Plc said its Chief Executive Peter Page had agreed with the board to step down after the company's annual results in February.
The maker of edible collagen casings for bratwurst, salami and chorizo named its Finance Director Rutger Helbing as its new CEO effective Feb. 28.
Devro, whose shares have nearly doubled in value since Page became CEO in June 2007, is now battling slowing sales volumes, especially in China due to pricing issues.
It has taken up an investment programme to increase sales and manufacturing efficiency.
Rutger, who joined Devro as finance director in April last year, was named CEO after a thorough selection process, the company said.
A search for Helbing's successor has commenced, Devro said.
(Reporting by Rahul B in Bengaluru; Editing by Gopakumar Warrier)