TT Electronics plc announced that Richard Tyson, Group Chief Executive Officer, has informed the Board of his decision to leave the company to take up the role of CEO of Oxford Instruments plc. Since joining in July 2014, Richard has overseen a period of transformational change, positioning the Group in structurally growing, higher added value markets with long-term customer partnerships, and driven a significant improvement in operational and financial performance. He has built a strong central and divisional leadership team and will leave the business well positioned for future growth.

The Board will now begin the process to appoint a new CEO. Richard's notice period is 12 months and he will continue in role until the Board has completed the succession process. The Board regularly reviews succession planning and will provide updates as and when appropriate.