TT Electronics CEO Peter France Steps Down After 18 Months
Company - People | Apr 10, 2025 | Business Cloud
TT Electronics, a prominent electronics manufacturer, has witnessed a significant change in its leadership as CEO and board director Peter France steps down after only 18 months in his role. France, who previously led ASCO Group and Rotork, will be succeeded temporarily by Eric Lakin, their CFO designate who is now acting CEO and an executive board member. The search for a permanent CEO and interim CFO has begun. This announcement has led to a notable decline in the company's share price, reflecting investor concerns. TT Electronics operates globally, catering to performance-critical applications with facilities in the UK, North America, and Asia. The company's market capitalization stands at £131.11 million.
Sectors
- Electronics Manufacturing
- Corporate Leadership
Geography
- United Kingdom – TT Electronics is based in Woking, UK, with its primary operations and headquarters located there.
- Global – The company has design and manufacturing facilities across North America, Asia, and the UK, indicating its global operational footprint.
Industry
- Electronics Manufacturing – TT Electronics operates in the electronics manufacturing industry, focusing on engineered electronics for performance-critical applications.
- Corporate Leadership – The article discusses the transition and restructuring of the corporate leadership at TT Electronics, which is a key aspect of executive management.
Financials
- £131.11 million – Current market capitalization of TT Electronics following the announcement of the CEO's departure.
- 83.4p to 72.4p – Share price drop of TT Electronics from 83.4p at 16.30 yesterday to 72.4p at 10.30 today, post announcement.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TT Electronics | Target Company | Company | A global electronics manufacturer specializing in engineered electronics for performance-critical applications. |
| Peter France | Former CEO and Board Director | Person | Served as CEO of TT Electronics for 18 months; formerly led ASCO Group and Rotork. |
| Eric Lakin | Acting CEO and Executive Director | Person | Appointed as acting CEO and joined the board as an executive director following Peter France's departure. |
| ASCO Group | Former Employer of Peter France | Company | An Aberdeen-based company where Peter France served as group CEO. |
| Rotork | Former Employer of Peter France | Company | A company where Peter France spent 28 years, serving as CEO from 2008-2017. |