RNS Number : 8936R
TP Group PLC
15 December 2016
TP Group (AIM: TPG), the specialist services and engineering group, announces that Richard King will stand down from his position as Non-Executive Chairman of the Board with effect from 31 December 2016.
Richard was appointed to the Board in February 2011, becoming Non-Executive Chairman in March 2013. He oversaw the evolution of the Group from a loss-making research and development business into a profitable Tier 2 services and engineering business in industrial and defence sectors and continuing this progress with a positive outlook, as announced in yesterday's trading update.
Richard will continue with his charity work whilst exploring new opportunities alongside his other business interests.
Andrew McCree will take over as Non-Executive Chairman and the Company has commenced the search for an additional, suitably qualified, independent non-executive director and will update shareholders accordingly.
Phil Cartmell, Chief Executive of TP Group, commented:
"I would like to thank Richard for his support and guidance over the last six years. The Group has made great progress under his stewardship and has established a strong platform to work with global customers on strategic programmes. We look forward to continuing this progress with Andrew as we pursue further complex services and engineering opportunities in the defence, government and industrial sectors."