REG - TT Electronics PLC - Board Update

TT electronicsAnnouncement

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RNS Number : 7171Z  TT Electronics PLC  09 April 2026

 

9 April 2026

TT Electronics plc

Board Update

TT Electronics plc ("TT"), a global provider of engineered electronics for
performance critical applications, today announces an update on its Board of
Directors.

Appointment of Non-Executive Chairman

TT is pleased to announce the appointment of Phil Swash as independent
Non-Executive Chairman with effect from the end of TT's Annual General Meeting
to be held on 15 May 2026.

Phil is a highly experienced Chairman and CEO with a distinguished career in
global engineering businesses including Airbus, BAE Systems, GKN, Latecoere
and Survitec. He brings deep expertise in aerospace, defence, automotive and
marine sectors. Phil is currently the Non-Executive Chairman of Survitec Group
Ltd and Non-Executive Director of Cael Nova AG.

Phil's appointment follows a comprehensive search process carried out by TT's
Nomination Committee, led by its Senior Independent Director, with support
from external search consultancy Korn Ferry and engagement with its major
shareholders. Phil has in the recent past collaborated as an industry expert
with TT's largest shareholder, DBAY Advisors Limited ("DBAY"). The TT Board
has undertaken due diligence into Phil's business connections to DBAY and made
the judgement that Phil is independent on appointment for the purposes of the
UK Corporate Governance Code.

Non-Executive Director update

After two three-year terms as Chair of the Audit Committee and more recently
as Senior Independent Director, and following the appointment of a new
Chairman, Anne Thorburn has informed the TT Board of her intention to stand
down from the Board. She will remain on the Board in her current capacity
until her successor has been recruited and has offered herself for re-election
at the Company's upcoming AGM.

In addition, after completing a three-year term as a non-executive director,
Mick Ord has informed the Board that he will not offer himself for re-election
at the AGM to concentrate on his other business activities. The Board will
seek to make additional non-executive director appointments as appropriate.

Eric Lakin, CEO said:

"I am delighted to welcome Phil to TT Electronics.  He has a wealth of
industry experience and he brings an in-depth knowledge of the aerospace and
defence sector.  He joins us at a time when we continue to execute on our
strategic direction and strong platform for growth, underpinned by our four
priorities of divisional realignment, cost reduction, sales transformation and
portfolio optimisation".

Phil Swash, Chair Designate said:

"I believe that TT Electronics has huge potential, I am excited by the
opportunity and look forward to working closely with Eric and the rest of the
TT Board in contributing to the business and its growth strategy."

Warren Tucker, Chair said:

"Since Covid TT and the Board have been required to navigate a number of
challenges; Mick and Anne have been pivotal in doing so and have worked
relentlessly to use their expertise, business experience and judgement to help
put TT in the best possible position to succeed. On behalf of the Board and
the Company, I would like to express our huge gratitude for their service, and
also thank Anne for agreeing to remain until her successor has been
recruited".

 

There are no further disclosures required in respect of this announcement
under UKLR.6.4.8.

This announcement contains inside information. The person responsible for the
release of this announcement on behalf of TT is Ian Buckley, General Counsel
and Company Secretary.

 

 For further information please contact:
 TT Electronics plc
 Eric Lakin, Chief Executive Officer

 Matthew Lee, Investor Relations
 Email: ttelectronics@equitory.com

 Berenberg

 Harry Nicholas / Ciaran
 Walsh
 Tel: +44 (0) 2032 077 800

 MHP

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

 

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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