(Alliance News) - Pressure Technologies PLC on Tuesday said it has appointed a new chief financial officer, effective from the second quarter of 2023, and replacing the resigning incumbent.
The Sheffield, England-based group of specialist precision engineering businesses said Steve Hammell will join the company and board in the second quarter of 2023. He will replace James Locking, who will be stepping down at the end of February, as announced in November.
Hammell is currently CFO at Sheffield Forgemasters International Ltd, who manufacture ultra-heavy forgings and castings for a wide range of industry sector, including UK and international defence markets.
With over 29 years of experience as a chartered accountant, Hammell has held several financial leadership roles, including as CFO of cybersecurity firm ECSC Group PLC and group finance director of international technology consultancy eBECS Ltd.
Pressure Technologies said, to ensure a smooth transition from Locking to Hammell, recent management changes have been made within its finance function, including the addition of interim finance support to ensure the completion of ongoing projects such as its financial 2022 audit.
"We are delighted that Steve will be joining the company and board, where his considerable knowledge and experience will contribute significantly to the development of the business," said Pressure Technologies Chair Nick Salmon.
"The board would like to thank James for his contribution and service to the business over the past four years and wishes him every success for the future."
Shares in Pressure Technologies were down 3.8% to 38.00 pence each in London on Tuesday morning.
By Greg Rosenvinge, Alliance News reporter
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