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Engineering company IMI appoints new CEO

(Reuters) - Engineering company IMI Plc (LSE:IMI) appointed Mark Selway as chief executive, replacing Martin Lamb who will step down at the end of the year.

Selway, who previously headed Australian construction company Boral Ltd (BLD.AX) and engineering company Weir Group Plc (WEIR.L), will join as chief executive designate on October 1 and take over on January 1.

IMI, which specialises in fluid control systems such as valves and beverage dispensers, said Lamb will retire from the board at the annual general meeting next year.

(Reporting by Aashika Jain in Bangalore; Editing by Supriya Kurane)