REG - Oxford Instruments - CEO succession

Oxford InstrumentsAnnouncement

13/04/2023 07:00

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RNS Number : 0378W  Oxford Instruments PLC  13 April 2023

13 April 2023

Oxford Instruments plc

CEO succession

 

Ian Barkshire to retire and Richard Tyson to be appointed as Chief Executive
Officer

This announcement contains inside information.

 

Oxford Instruments plc, which provides high-technology products and systems to
the world's leading companies and scientific research communities, has today
announced the forthcoming retirement, with the agreement of the Board, of
Chief Executive Ian Barkshire, who will leave after seven years as Chief
Executive and more than 25 years with the company.

Richard Tyson, currently Chief Executive Officer at global electronics company
TT Electronics plc, has been appointed as Ian's successor.

We are working with Richard and TT Electronics to agree the date he will
commence in the role, and will make a further announcement in due course. It
is intended that Ian will continue as Chief Executive until Richard joins, and
will then ensure a smooth transition of leadership.

Richard Tyson, Chief Executive Officer of TT Electronics plc since 2014, and
Non-Executive Director at Videndum plc since 2018, has a strong track record
of successful business leadership in the technology sector spanning more than
30 years. During his time at TT Electronics plc, he has transformed, reshaped
and refocused the business, delivering product innovation, building the group
organically and through acquisition, and delivering growth in revenue, profits
and margin.  Prior to taking on the role of CEO at TT Electronics plc,
Richard held senior roles at defence group Cobham, where he led the aerospace
and security division, and at Goodrich Aerospace.

Neil Carson, Chair of the Board of Oxford Instruments plc, said: "Ian
Barkshire has led Oxford Instruments through a period of remarkable growth,
positioning the business in structural growth markets and transforming it into
a global leader through the deployment of the Horizon strategy. In doing so,
he has remained focused on our people and our purpose - to enable a greener,
healthier, more connected advanced society - as the drivers of success. He
leaves the business stronger than ever, and can look back on his long career
with Oxford Instruments with immense pride. On behalf of the Board and all his
colleagues, I would like to thank Ian for the tremendous contribution he has
made, and to wish him and his family every happiness in the future.

"I am delighted that Richard Tyson will be joining us to lead us through the
next phase of our growth. With his record of success and his wealth of
expertise in high technology innovation and global manufacturing, Richard is
ideally placed to build from the position of strength created by Ian and Chief
Financial Officer Gavin Hill, along with our leadership team, and to continue
Oxford Instruments' positive trajectory as one of the UK's leading global
technology companies."

Ian Barkshire said: "I am proud to have led Oxford Instruments, working with
the Board and leadership team to drive the transformation we have delivered
through the Horizon strategy. It has been an honour to steer one of the UK's
most innovative companies, and to work with some of the most dedicated and
talented people in our industry. I am fully committed to continuing our growth
trajectory through my remaining time in post, and to supporting Richard, the
Board and my colleagues during the forthcoming period of transition."

Richard Tyson said: "I have long been an admirer of Oxford Instruments, as one
of the most exciting technology companies operating today. I look forward to
building on the strong foundations created by Ian and the management team, and
to maximising the company's potential to thrive and grow in its target
markets."

Richard does not own any shares in Oxford Instruments plc and there are no
further details to be disclosed under paragraph 9.6.13 of the Listing Rules.

The remuneration arrangements relating to Ian Barkshire's retirement will be
in line with Oxford Instruments plc's shareholder-approved Remuneration Policy
and further to confirmation of the associated timings in due course, will be
disclosed in accordance with section 430(2B) of the Companies Act 2006 on the
company's website and 2023 Directors' Remuneration Report.

 

LEI number of Oxford Instruments plc: 213800J364EZD6UCE231

 

Enquiries:

Oxford Instruments plc
                                    Tel:  07720 999764

Julian Wais, Head of Investor Relations

 

MHP Communications
                                    Tel:  020 3128 8100 /
07884 494112

Katie Hunt/Eleni Menikou/Veronica Farah

oxfordinstruments@mhpc.com

 

- Ends -

Issued for and on behalf of Oxford Instruments plc

 

About Oxford Instruments

Oxford Instruments designs, supplies and supports high-technology products
and systems which allow the world's leading companies and scientific research
communities to image, analyse and manipulate materials down to the atomic and
molecular level. The Group's products and services help its customers to
accelerate R&D, increase manufacturing productivity and make
ground-breaking discoveries across its key market segments: Semiconductor
& Communications, Advanced Materials, Healthcare & Life Science,
Energy & Environment and Quantum Technology. 

Innovation is the driving force behind Oxford Instruments' growth and success,
supporting its core purpose to enable a greener, healthier, more connected
advanced society. Founded in 1959 as the first technology business to be spun
out from Oxford University, Oxford Instruments is now a global company
listed on the FTSE250 index of the London Stock Exchange (OXIG). Its
customer-centric, market-focused strategy creates competitive advantage
through understanding the technical and commercial challenges in markets with
long-term structural growth drivers.

For more information, visit www.oxinst.com 

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