Ashwood out, Smeeton in as Stratex finance chief

The AIM-traded firm said Ashwood, who joined the Stratex Group in September 2005 and saw the company through its AIM listing in 2006, had informed the board of his intention to retire when a suitable replacement could be found.

It said he would be replaced in both positions by Robert 'Bob' Smeeton, who would be appointed to the board with effect from 4 June.

“Perry has played a critical role in the development and success of Stratex since joining in 2005,” said chairman Peter Addison.

“On behalf of the company and its shareholders, I would like to thank him wholeheartedly for his dedication to the company over the last 12 and a half years and wish him well in his retirement.”

Addison said Ashwood would continue to support the firm as a consultant in order to provide continuity for his incoming replacement, Bob Smeeton.

“Bob has extensive experience of working with AIM companies, contributing significantly to the successful turnaround and growth of several companies during the course of his career, and in turn delivering material value to shareholders.

“We look forward to welcoming him to the team next month.”