Halma has announced that its chief financial officer (CFO), Steve Gunning, has decided to retire from the group.

He will continue in his role as CFO of Halma, the global group of safety equipment companies, until 31 March.

Gunning was initially appointed to enable Halma’s chief executive, Marc Ronchetti, to give his full focus towards his transition to CEO, as well as to set the finance function up for future growth. With those priorities now complete, Gunning has now opted to step back from his executive career.

“Steve has played a vital role for Halma, and for me personally, enabling me to focus fully on my transition into the group chief executive role,” Ronchetti said.

“He has delivered strategically critical work across the finance function which has set us up for the next phase of our growth. I would like to thank him for his partnership and support and wish him all the best for the future.”

Gunning added: “I have really enjoyed working with Marc and the team and I am proud to have contributed to Halma’s continued success. My main goal was to support Marc’s transition, which has gone well and is now complete. It has also been satisfying to further focus the group on return on capital and develop the finance function for future growth.

“Given the progress made, it is the right moment for me to step back from my executive career.”

Halma also confirmed that it has appointed Carole Cran as CFO designate with immediate effect, before Cran succeeds Gunning in the role of CFO permanently from 1 April.

Cran has been an independent non-executive director of Halma and chair of the Audit Committee since 2016 and was most recently CFO of Forth Ports Limited.

“I am excited to be joining Halma as CFO and am looking forward to building on the great work that Steve has done,” Cran said.

“In my time on the Halma board, I have seen first-hand the strength of the group’s business model and the passion our people have for making a positive difference to people’s lives every day. I look forward to playing my role in further extending our track record of sustainable growth and returns.”

Ronchetti added: “I am delighted that Carole has agreed to become our next CFO. She brings considerable experience as a finance leader as well as a good understanding of Halma’s sustainable growth model, having spent nine years on our board. Her passion for Halma's purpose, our companies and our people, makes her a great addition to the executive team.”

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