TT Electronics has appointed Eric Lakin as its new chief financial officer (CFO), succeeding Mark Hoad, who is retiring after a decade in the role.

Lakin joins the firm from FTSE-listed clean energy technology firm, Ceres Power, where he served as CFO.

Before that, he spent 10 years at Smiths Group in a variety of roles, most recently as CFO of Smiths Interconnect, where he was responsible for finance and strategy in its £350m electronics division, with manufacturing locations in 10 countries across Europe, Asia and North America.

Lakin’s early career included roles in private equity and corporate finance at Oakley Group, Alchemy Partners and BT Group. He is a chartered management accounts and holds an MA in electrical and information sciences from Cambridge University.

Lakin will join TT Electronics 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, Hoad will step down from the role of CFO as form the board. However, he will remain available to the company until 30 September 2025.

Chief executive officer at TT Electronics, Peter France, said: "I am delighted to be able to announce today's appointment of Lakin. 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."

Lakin concluded: "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."

---