TT Electronics has announced the appointment of Ian Ashton as the group’s new chief financial officer (CFO).

Ashton, who will also become an executive director at TT, is currently the CFO of SIG, a role he has had since 2020.

Prior to joining SIG, Ashton served as CFO at Low & Bonar until its acquisition by the Freudenberg Group, and before that he was CFO of Labviva, a US-based technology company. He has also served in several senior financial roles at Smith & Nephew.

Ashton will join TT following the completion of his current notice period of up to a maximum of six months.

He will succeed Richard Webb in the role, who has been TT's interim CFO since May last year. Webb will continue on an interim basis until Ashton joins TT, and will support an orderly handover.

“I’m delighted to have been appointed CFO of TT,” Ashton said. “The group has a huge amount of potential, with strong market positions and a clear strategy in place, and I am excited at what lies ahead. I greatly look forward to working alongside Eric and the rest of the management team to help deliver further operational and financial progress.”

TT’s CEO, Eric Lakin, added: “We are delighted to announce Ian’s appointment as CFO. He brings a strong combination of financial expertise, operational insight and leadership experience, which will support the group in building on the positive progress achieved over the past 12 months in creating a clearer strategic direction and a stronger platform for growth.

“I would like to thank Richard for his support, and I look forward to working with him to ensure a smooth transition. Ian is an excellent fit for TT and I’m excited about working closely with him.”

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