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(Sharecast News) - The chief financial officer of SIG is stepping down to join TT Electronics, it was announced on Friday.
Ian Ashton has resigned from the building materials supplier after nearly six years in the role. He will join TT Electronics - which supplies the healthcare, aerospace, defence and automation markets with products for critical applications - as chief financial officer and executive director later in the year, once his notice period of up to six months has been completed.
Eric Lakin, TT Electronics' chief executive, said Ashton brought a "strong combination" of financial expertise, operational insight and leadership experience, "which will support the group in building on the positive progress achieved over the past 12 months in creating a clearer strategic direction and a stronger platform for growth".
He will succeed Richard Webb, who has held the role on a temporary basis, since May 2025.
Ashton, who has previously held finance roles at Smith & Nephew and Low & Bonar, said: "The group has a huge amount of potential, with strong market positions and a clear strategy in place, and I am excited about what lies ahead."
SIG confirmed that a process to replace Ashton was now underway. Chair Andrew Allner added: "Ian has contributed significantly to the development and strengthening of the group's financial and operating processes. On behalf of the board, I would like to thank Ian and wish him well for the future."
As at 1145 BST, shares in TT Electronics were up 2% at 119.98p, while SIG was 4% stronger at 8.92p.
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