TIDMOXIG
RNS Number : 0378W
Oxford Instruments PLC
13 April 2023
13 April 2023
Oxford Instruments plc
CEO succession
Ian Barkshire to retire and Richard Tyson to be appointed as
Chief Executive Officer
This announcement contains inside information.
Oxford Instruments plc, which provides high-technology products
and systems to the world's leading companies and scientific
research communities, has today announced the forthcoming
retirement, with the agreement of the Board, of Chief Executive Ian
Barkshire, who will leave after seven years as Chief Executive and
more than 25 years with the company.
Richard Tyson, currently Chief Executive Officer at global
electronics company TT Electronics plc, has been appointed as Ian's
successor.
We are working with Richard and TT Electronics to agree the date
he will commence in the role, and will make a further announcement
in due course. It is intended that Ian will continue as Chief
Executive until Richard joins, and will then ensure a smooth
transition of leadership.
Richard Tyson, Chief Executive Officer of TT Electronics plc
since 2014, and Non-Executive Director at Videndum plc since 2018,
has a strong track record of successful business leadership in the
technology sector spanning more than 30 years. During his time at
TT Electronics plc, he has transformed, reshaped and refocused the
business, delivering product innovation, building the group
organically and through acquisition, and delivering growth in
revenue, profits and margin. Prior to taking on the role of CEO at
TT Electronics plc, Richard held senior roles at defence group
Cobham, where he led the aerospace and security division, and at
Goodrich Aerospace.
Neil Carson, Chair of the Board of Oxford Instruments plc, said:
"Ian Barkshire has led Oxford Instruments through a period of
remarkable growth, positioning the business in structural growth
markets and transforming it into a global leader through the
deployment of the Horizon strategy. In doing so, he has remained
focused on our people and our purpose - to enable a greener,
healthier, more connected advanced society - as the drivers of
success. He leaves the business stronger than ever, and can look
back on his long career with Oxford Instruments with immense pride.
On behalf of the Board and all his colleagues, I would like to
thank Ian for the tremendous contribution he has made, and to wish
him and his family every happiness in the future.
"I am delighted that Richard Tyson will be joining us to lead us
through the next phase of our growth. With his record of success
and his wealth of expertise in high technology innovation and
global manufacturing, Richard is ideally placed to build from the
position of strength created by Ian and Chief Financial Officer
Gavin Hill, along with our leadership team, and to continue Oxford
Instruments' positive trajectory as one of the UK's leading global
technology companies."
Ian Barkshire said: "I am proud to have led Oxford Instruments,
working with the Board and leadership team to drive the
transformation we have delivered through the Horizon strategy. It
has been an honour to steer one of the UK's most innovative
companies, and to work with some of the most dedicated and talented
people in our industry. I am fully committed to continuing our
growth trajectory through my remaining time in post, and to
supporting Richard, the Board and my colleagues during the
forthcoming period of transition."
Richard Tyson said: "I have long been an admirer of Oxford
Instruments, as one of the most exciting technology companies
operating today. I look forward to building on the strong
foundations created by Ian and the management team, and to
maximising the company's potential to thrive and grow in its target
markets."
Richard does not own any shares in Oxford Instruments plc and
there are no further details to be disclosed under paragraph 9.6.13
of the Listing Rules.
The remuneration arrangements relating to Ian Barkshire's
retirement will be in line with Oxford Instruments plc's
shareholder-approved Remuneration Policy and further to
confirmation of the associated timings in due course, will be
disclosed in accordance with section 430(2B) of the Companies Act
2006 on the company's website and 2023 Directors' Remuneration
Report.
LEI number of Oxford Instruments plc: 213800J364EZD6UCE231
Enquiries:
Oxford Instruments plc Tel: 07720 999764
Julian Wais, Head of Investor Relations
MHP Communications Tel: 020 3128 8100 / 07884 494112
Katie Hunt/Eleni Menikou/Veronica Farah
oxfordinstruments@mhpc.com
- Ends -
Issued for and on behalf of Oxford Instruments plc
About Oxford Instruments
Oxford Instruments designs, supplies and supports
high-technology products and systems which allow the world ' s
leading companies and scientific research communities to image,
analyse and manipulate materials down to the atomic and molecular
level. The Group's products and services help its customers to
accelerate R&D, increase manufacturing productivity and make
ground-breaking discoveries across its key market segments:
Semiconductor & Communications, Advanced Materials, Healthcare
& Life Science, Energy & Environment and Quantum
Technology.
Innovation is the driving force behind Oxford Instruments'
growth and success, supporting its core purpose to enable a
greener, healthier, more connected advanced society. Founded in
1959 as the first technology business to be spun out from Oxford
University, Oxford Instruments is now a global company listed on
the FTSE250 index of the London Stock Exchange (OXIG). Its
customer-centric, market-focused strategy creates competitive
advantage through understanding the technical and commercial
challenges in markets with long-term structural growth drivers.
For more information, visit www.oxinst.com
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