REG - TT Electronics PLC - Board Change

TT electronicsAnnouncement

08/01/2025 07:00

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RNS Number : 4824S  TT Electronics PLC  08 January 2025

 

8 January 2025

 

TT Electronics plc

 

Board Change

 

TT Electronics plc ("TT", the "Company"), a global engineer and manufacturer
of electronic solutions for critical applications, announces that it has
appointed Eric Lakin to succeed Mark Hoad as Chief Financial Officer ("CFO"),
following the announcement on 14 November 2024 of his intention to retire
after 10 years with the Group.

 

Eric is a highly experienced CFO with a proven track record in engineering and
industrial sectors. He was most recently CFO of Ceres Power, a FTSE clean
energy technology business. Before that he spent 10 years at Smiths Group in a
variety of roles, latterly as CFO of Smiths Interconnect, responsible for
finance and strategy in this £350m electronics division with manufacturing
locations in 10 countries across Europe, Asia and North America. His early
career includes roles in private equity and corporate finance at Oakley
Capital, Alchemy Partners and BT Group, as a research analyst at BAML and
Credit Suisse, and as a strategy consultant at Arthur D Little. Eric is a
Chartered Management Accountant and holds an MA in Electrical and Information
Sciences from Cambridge University.

 

Eric will join TT on 13 January as CFO Designate, until the results for the
year ended 31 December 2024 are announced, which is scheduled on 4 March 2025.
On this date Mark will step down as CFO and from the Board, and Eric will be
appointed CFO and a member of the Board. Mark will remain available to the
Company until 30 September 2025.

 

Peter France, Chief Executive Officer, commented:

 

"I am delighted to be able to announce today's appointment of Eric. He has
very strong credentials in strategic, financial and operational matters for an
international manufacturing business like ours and I am really pleased that we
can get to work immediately."

 

Eric Lakin, CFO Designate, commented:

 

"I'm genuinely excited to be joining TT Electronics at a pivotal point in the
development of the business. I look forward to working with Peter to maximise
the opportunities available to TT, deliver its full potential, and help drive
improvement in returns for shareholders."

 

Eric Lakin has been during the last five years, a director of the following
companies:

 

Previous           Ceres Power Holdings PLC

 

There are no further matters that require disclosure under 6.4.8R of the UK
Listing Rules in relation to Eric Lakin's appointment.

 

 

 

 For further information please contact:

 TT Electronics plc                        Tel: +44 (0)1932 827 779
 Peter France, Chief Executive Officer

 Kate Moy, Head of Investor Relations and Communications

 MHP                                       Tel: +44 (0)7817 458804
 Tim Rowntree / Ollie Hoare

 ( )

 

About TT Electronics

TT Electronics is a global provider of engineered electronics for performance
critical applications.

TT solves technology challenges for a sustainable world. TT benefits from
enduring megatrends in structurally high-growth markets including healthcare,
aerospace, defence, electrification and automation. TT invests in R&D to
create designed-in products where reliability is mission critical. Products
designed and manufactured include sensors, power management and connectivity
solutions. TT has design and manufacturing facilities in the UK, North
America, and Asia.

 

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