Chief financial officer (CFO) at Concurrent Technologies, Kim Garrod, has announced her intention to retire and step down from her position.

She will remain in her role at the computer products and systems designer and manufacturer until the end of the year to ensure a smooth transition.

The firm has begun an external recruitment process to identify her successor and will made a further announcement when appropriate.

Chief executive officer at Concurrent, Miles Adcock, stated: “Over the past four years, Kim has made a significant contribution to Concurrent, providing disciplined financial leadership and supporting the execution of our strategic priorities, including the successful completion and integration of the Phillips acquisition.

“She has been instrumental in the group's growth, establishing a strong financial foundation for continued progress. While we will be sorry to see Kim leave, we fully respect her decision to retire. On behalf of the board, I thank Kim for her commitment and professionalism and wish her every success in the future."

The update comes after Concurrent reported a 14% year-on-year revenue increase in the 12 months to 31 December, totalling £45.9m.

Furthermore, its profit before tax also rose by 25% to £6.5m, while its earnings jumped by 29% to £10.1m. It stated that this double-digit growth reflects continued progress across its products and systems business units.

It added that while the macroeconomic environment remains uncertain, underlying dynamics remain supportive and the strength of its pipeline, it remans confident of delivering results remain in line with market expectations.

Adcock concluded: "Concurrent delivered another year of strong financial and strategic progress in 2025, with double-digit growth in revenue and profit alongside a record order intake. This performance reflects continued momentum in our core products business and encouraging progress in Systems, where ongoing investment is building a platform for future scale.

"The strength of our relationships with leading global defence primes and the growing portfolio of long-visibility design wins provide increasing visibility as programmes begin to transition into sustained production. At the same time, continued investment in our operational infrastructure and technology capability is enhancing our ability to support larger and more complex customer programmes."

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