LONDON (Alliance News) - Pressure Technologies PLC said on Tuesday that Chief Executive Officer John Hayward will step down on October 1 and be replaced by Chris Walters.
The incoming CEO will join the company on September 3 and will work alongside the current CEO for a one-month handover period. The company didn't say why Hayward was stepping down.
Most recently, Walters was CEO of TSC Inspection Systems, a technology and services firm.
Chairman Alan Wilson said: "We are delighted to welcome Chris to the company, particularly as he has an enviable track record of leading change and driving global growth of businesses in the Energy and Marine industries."
Shares in Pressure Technologies were down 3.1% at 104.20 pence each on Tuesday.
Pressure Tech (PRES)