Nexteq has announced the appointment of Matt Staight as its new chief financial officer (CFO).

The appointment comes after its current CFO, Johan Olivier, announced that he was to step down from the role earlier this year.

Staight joined Nexteq in in 2022 and is currently serving as group finance controller.

Nexteq, which provides technology solutions to selected industrial markets, said that Staight is a "highly experienced financial professional" who has already been "significantly involved" in the group’s growth projects.

During the handover period, Olivier will act as a consultant to Nexteq to support the orderly handover of duties.

The appointment comes as the firm said that its current 2025 order book “remains lower than previously anticipated”, and there is still uncertainty around the “ongoing de-stocking levels” as its progresses through the first half of 2025.

However, it added that it plans to continue to invest “in product and operational excellence”, which will enable growth in 2026 and later years.

Group chief executive officer at Nexteq, Duncan Faithfull, said: "Whilst it is disappointing to have customer projects extended beyond the company's financial period end, we remain laser focused on delivering to our customers high quality, innovative new products together with outstanding levels of service - the foundations of our market leading reputation.

"Whilst we are engaged in a detailed review of the business, I am encouraged by the pipeline from an increasingly diversified range of products and services, supported by underlying market drivers and a robust balance sheet. Growth expectations in 2026 and 2027 will be fueled by the development work being done now.

"On behalf of the board, I would like to thank Olivier for his contributions to the business over the last three years, and wish him the very best for the future, once his period of consultancy to Staight is completed. I would like to welcome Staight to the group CFO role, and I look forward to working with him closely and benefiting from his deep knowledge of the business as we set out our detailed execution plan."

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