TT Electronics taps Eric Lakin as new finance chief

Electronics engineering and manufacturing company TT Electronics announced the appointment of Eric Lakin as its new chief financial officer on Wednesday, to succeed Mark Hoad, who was retiring after a decade with the company as previously announced in November.

The London-listed firm said Lakin would bring extensive experience in finance and leadership within the engineering and industrial sectors.

Most recently, he served as CFO of Ceres Power, a FTSE-listed clean energy technology company.

Prior to that, he spent 10 years at Smiths Group, where he held various roles including CFO of Smiths Interconnect - a £350m electronics division with operations across Europe, Asia and North America.

His earlier career included positions in private equity, corporate finance, equity research, and strategy consulting at firms such as Oakley Capital, Alchemy Partners, and Arthur D Little.

Lakin is a Chartered Management Accountant, and holds an MA in Electrical and Information Sciences from Cambridge University.

Lakin would join TT Electronics on 13 January as CFO-designate, and would formally assume the CFO role and a seat on the board on 4 March, coinciding with the announcement of the company’s full-year results for 2024.

Hoad would step down on the same date, but would remain available to the company until 30 September to ensure a smooth transition.

“I am delighted to be able to announce today's appointment of Eric,” said chief executive officer Peter France.

“He has very strong credentials in strategic, financial and operational matters for an international manufacturing business like ours and I am really pleased that we can get to work immediately.”

At 1121 GMT, shares in TT Electronics were down 0.98% at 101p.

Reporting by Josh White for Sharecast.com.