REG - Oxford Instruments - Chief Financial Officer succession

Oxford InstrumentsAnnouncement

09/01/2025 07:00

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RNS Number : 6521S  Oxford Instruments PLC  09 January 2025

 

 

9 January 2025

Oxford Instruments plc

Chief Financial Officer succession

Oxford Instruments plc ("the Company"), a global provider of high technology
products and services to many of the world's leading companies and scientific
research communities, today announces succession plans for the role of Chief
Financial Officer ("CFO") to the Company.

After nearly nine years with the Company, Gavin Hill has agreed with the Board
that he will step down from the Board and his role of CFO on 31 March 2025,
the end of the financial year. He will remain actively involved with the
Company until June 2025 to support a smooth transition.

After a rigorous search process, Paul Fry will be appointed as CFO.  He joins
the Company from today (9 January 2025), initially in a non-Board role, before
being appointed to the Board and taking up the role of CFO on 1 April 2025.

Paul has a strong track record in senior positions at international healthcare
and technology companies, having held the roles of CFO, most recently at
Argenta Group and previously at Vectura plc and Immunocore Limited. With a
career spanning more than 25 years, Paul has also held a number of senior
roles at Vodafone and GlaxoSmithKline. He is also currently a Non-Executive
Director and Chair of the Audit Committee at AIM-listed healthcare company
Avacta Group plc.

Richard Tyson, CEO, said:

"The Board would like to thank Gavin for the very significant contribution he
has made to the success of Oxford Instruments over nearly nine years, and I am
especially grateful for his support to me since I joined as CEO. He has been a
strong steward of the Company's finances throughout his tenure, shaping our
growth and building the foundations for ongoing success. He is enormously well
respected and liked by both colleagues and stakeholders, and leaves with our
very best wishes for the future.

I am delighted that Paul will be joining us for the next phase of our growth.
He brings a wealth of highly relevant experience in business transformation, a
clear understanding of our growth drivers, and a shared commitment to our
purpose and values-led approach.

I look forward to working with Paul and the wider leadership team to continue
to deliver our exciting plans for the future of Oxford Instruments."

Gavin Hill, CFO, said:

"I am really proud to have played a role in the considerable achievements made
at Oxford Instruments over recent years. Since I joined in early 2016, we have
tripled the share price of the Company, providing value for shareholders,
great opportunities for our employees and more advanced technologies for our
customers. I look forward to seeing Oxford Instruments continue its growth
trajectory from the strong position that it is in now."

Paul Fry, CFO designate, said:

"I'm thrilled to be joining Oxford Instruments, one of the UK's most exciting
and innovative technology growth stories, with a remarkable track record and a
clear vision for the future.

I look forward to working with Richard and the leadership team to grow the
business and improve returns over the medium term."

The remuneration arrangements relating to Gavin Hill's departure will be in
line with Oxford Instruments plc's shareholder-approved Remuneration Policy
and will be disclosed in accordance with section 430(2B) of the Companies Act
2006 on the Company's website and in the Directors' Remuneration Report, when
he steps down from the Board.

Paul Fry is currently Non-Executive Director and Chair of the Audit Committee
at Avacta Group plc, a role he has held since February 2020; he held the role
of CFO and Executive Director at Vectura plc from October 2018 to March 2022,
including a period as acting CEO from 30 June 2019 to 7 November 2019. Paul's
remuneration arrangements are in line with the shareholder-approved
Remuneration Policy and will be disclosed in the Directors' Remuneration
Report contained within the Annual Report for the year ended 31 March 2025.
There are no further matters that require disclosure under 6.4.8R of the UK
Listing Rules in relation to his appointment.

 

LEI number of Oxford Instruments plc: 213800J364EZD6UCE231

 

Enquiries:

 

Oxford Instruments plc         
                                   
           

Richard Tyson, Chief Executive Officer

Gavin Hill, Chief Financial Officer

Stephen Lamacraft, Head of Investor Relations

Tel:  01865 393200

investors@oxinst.com

 

MHP
Group                                                          
 

Katie Hunt/Tim Rowntree/Veronica Farah

Tel:  07884 494112

oxfordinstruments@mhpgroup.com (mailto:oxfordinstruments@mhpgroup.com)

 

Issued for and on behalf of Oxford Instruments plc

Notes to Editors

 

About Oxford Instruments plc

Oxford Instruments provides academic and commercial organisations worldwide
with market-leading scientific technology and expertise across its key market
segments: materials analysis, semiconductor, and healthcare & life
science.

Innovation is the driving force behind Oxford Instruments' growth and success,
supporting its core purpose to accelerate the breakthroughs that create a
brighter future for our world. The vigorous search for new ways to make our
world greener, healthier and more productive is driving unprecedented levels
of R&D investment in new materials and techniques to support productivity
and decarbonisation worldwide, creating a significant opportunity for Oxford
Instruments to grow.

Oxford Instruments holds a unique position to anticipate global drivers and
connect academic researchers with commercial applications engineers, acting as
a catalyst that powers real world progress.

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).

For more information, visit www.oxinst.com 

 

 

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