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.
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For
further information please contact:
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TT
Electronics plc
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Tel: +44 (0)1932 827 779
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Peter France, Chief Executive
Officer
Kate Moy, Head of Investor Relations
and Communications
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MHP
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Tel: +44 (0)7817 458804
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Tim Rowntree / Ollie
Hoare
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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.