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(Sharecast News) - AB Dynamics announced on Tuesday that it has appointed its current chief financial officer, Sarah Matthews-DeMers, as group chief executive officer, effective from 1 December.
She would succeed James Routh, who would stand down from the board on 30 November and remain with the company until the end of the year to ensure a smooth transition.
The AIM-traded firm said Matthews-DeMers had been a key member of the leadership team that had "transformed the group over the last six years".
Her appointment followed a rigorous search process led by chairman Dick Elsy, who described her as the standout candidate to lead the company through the next phase of its growth strategy.
"As an architect of our value creation plan Sarah has been an instrumental part of the leadership team that has transformed the group over the last six years," said chairman Dick Elsy CBE.
"I am delighted that she has accepted the opportunity to lead the group in the next phase of its development, as we execute on our growth and operational performance plans and take advantage of our unique position in an evolving industry underpinned by structural growth drivers towards greater safety, sustainability and efficiency in global transport markets."
A Fellow of the Institute of Chartered Accountants in England and Wales, Matthews-DeMers spent 14 years at PwC before holding senior roles in finance, strategy and investor relations at Avon Rubber, Rotork and Carclo.
AB Dynamics said it had started the formal process to appoint her successor as CFO, and in the meantime, the finance team will continue to report to her.
"I am honoured to have the opportunity to lead the truly exceptional business that is AB Dynamics," commented Matthews-DeMers.
"The heritage of the group, being a West of England engineering business, is close to my heart and the technology the group has developed at its locations across the globe is world leading.
"I look forward to working with the board, my executive team and all my colleagues to ensure we delight our customers and fulfil our potential over the long term."
At 1318 BST, shares in AB Dynamics were up 0.74% at 1,360p.
Reporting by Josh White for Sharecast.com.