TT Electronics taps Lakin for permanent CEO spot

(Sharecast News) - Electronic components manufacturer TT Electronics said on Tuesday that Eric Lakin, who has been acting chief executive officer since April, had been tapped to take over the job on a permanent basis, with immediate effect.

TT Electronics noted that the decision followed an external search process conducted by its Nomination Committee.

Chairman Warren Tucker said: "After an extensive, externally facilitated search that considered a strong field of external candidates, the board unanimously concluded that Eric is the best person to lead TT forward.

"Eric is a proven leader, with sector experience and has made good progress in stabilising the company since taking over in April. I look forward to supporting him as we focus on our short-term priorities and the turnaround of TT, ensuring it delivers for all our stakeholders."

As of 0940 BST, TT Electronics shares were up 1.32% at 92p.

Reporting by Iain Gilbert at Sharecast.com

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