APC Technology names new CEO

(ShareCast News) - Mark Robinson has resigned as chief executive and director of APC Technology Group, the electronic components supplier said on Monday.In a short statement, the London-listed group confirmed that Richard Hodgson has been appointed as CEO with immediate effect and he will focus on the operational review the group is currently undertaking."I am confident that Richard, along with the other members of the management team, will deliver the operational and financial improvements required to re position the Group for profit and cash generation in the new fiscal year," said group chairman Leonard Seelig.The company said it remained confident of its future prospects, due to the high level of recurring revenue in its component distribution and water divisions and the strength of its sales pipeline.APC shares were down 11.69% to 8.50p at 1041 BST on Monday.