Woking-based TT Electronics said experienced executive Peter France has been appointed as the company’s new CEO, succeeding Richard Tyson, who will step down on October 2 this year.

France has been CEO of ASCO Group, an industrial services provider to global energy markets, since 2018. He also spent 28 years at Rotork, which included nine years and is a non-executive director of Spirax-Sarco Engineering.

In a statement, France said: “I am excited to be joining TT Electronics, a UK headquartered industrial business, delivering specialist technology solutions for some of the world’s most important challenges, including efficient electrification.

READ MORE: TT Electronics reports improving revenues

“With an experienced board and management team, clear values and culture, and attractive positions in structurally growing markets, I am confident we will together deliver sustainable organic and, in due course, inorganic growth to drive value creation for all our stakeholders.”

TT Electronics chairman Warren Tucker added: “The board is looking forward to working closely with Peter, whose experience of delivering sustainable growth and margin expansion across international engineering businesses means he is ideally placed to bring further success to TT Electronics.”

France will join TT and become a board member on October 2, the same date that Tyson will leave the company and step down from the board, allowing for an orderly transition.

TT will report its results for the six months to June 30 on August 3 this year.

The company, which has three divisions, makes engineered electronics for the global market and has customers in the industrial, medical, aerospace and defence sectors. It has design and manufacturing facilities in the UK, US, Sweden and Asia.

Its power and connectivity division designs and manufactures power products and devices which enable the capture and wireless transfer of data. It also has a global manufacturing solutions division.

The firm’s sensors and specialist components division works with customers to develop standard and customised solutions, including power management devices.

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