Morgan Advanced taps Victrex's Richard Armitage for CFO

Morgan Advanced Materials revealed on Friday that it had appointed Richard Armitage to the role of chief financial officer.

Armitage, currently CFO of Victrex, will take over the position on 30 May 2022, succeeding current financial head Peter Turner, whose proposed retirement was announced on 6 May.

Victrex said it a full search process for Armitage's replacement would commence shortly.

Morgan Advanced Materials chief executive Pete Raby said: "I look forward to working with Richard, who brings great experience and will be a strong addition to our team.

"He joins us at an important time as the impact of our strategy starts to show in our financial performance with faster growth and expanded margins and he will be instrumental in helping us to deliver."

As of 0850 BST, MGAM shares were up 0.81% at 339.74p, while Victrex shares were 0.26% firmer at 2,354.0p.