Tt Electronics Regulatory News (TTG)

3 April 2020

TT Electronics plc

Directorate Change

Appointment of Warren Tucker as Chairman

TT Electronics is pleased to announce the appointment of Warren Tucker as a Non-Executive Director and Chairman elect with immediate effect.  This follows the announcement of 9 December 2019 of Neil Carson's intention to step down as Chairman.

Warren today becomes Chairman of the Board's Nomination Committee and a member of the Remuneration Committee, and he will become Chairman of the Board at the conclusion of the Annual General Meeting, scheduled for 6 May 2020. Neil Carson will continue as Chairman until this time, at which point he will step down from the Board.

Warren is currently a non-executive director of Reckitt Benckiser Group plc (since 2010), Tate & Lyle PLC (since 2018), where he is Chair of the Audit Committee, and the UK Government's Foreign & Commonwealth Office (since 2015). As previously announced, he will step down from the board of Reckitt Benckiser in May 2020.

During his executive career, Warren was CFO of Cobham plc from 2003 to 2013. Prior to this he held senior finance roles at Cable & Wireless and British Airways.

TT Electronics also announces that Stephen King, Senior Independent Director, will be stepping down from the Board in September 2020, after nine years' service. At the conclusion of the AGM, Jack Boyer will become Senior Independent Director with Anne Thorburn becoming Chair of the Audit Committee.

Stephen King, Senior Independent Director, said:

"I am delighted to welcome Warren to TT Electronics. He has a wealth of recent non-executive experience, as director and chairman, and he brings an in-depth knowledge of a number of our end-markets. He joins at an extraordinary time for us all and his experience will be invaluable, as we navigate through the current macro-issues, while continuing our transformation to become a sustainable, higher quality and a better-balanced business, with excellent growth prospects."

"We are extemely grateful to Neil for his leadership, direction and insights through a period of great strategic and operational progress for TT Electronics and he leaves it a much stronger business. The Board wishes to thank him for his significant contribution throughout his time on the Board."

Warren Tucker said:

"I am very excited to be joining TT Electronics as the business has developed differentiated capabilities and an ability to solve tough electronic challenges, together with a growing presence in attractive markets with long term structural growth characteristics. I look forward to leading the Board and supporting Richard Tyson and the executive team as they continue to execute the Group's strategy."

Notes:

1. Warren Tucker was previously the non-executive Chairman of PayPoint plc (until May 2015) and a non-executive director of Thomas Cook Group plc (until May 2019).

2. Warren Tucker is interested in 10,945 ordinary shares in TT Electronics held through his spouse.

3. TT Electronics confirms there are no further disclosures to be made under rule 9.6.13 of the Listing Rules.

About TT Electronics

TT Electronics is a global provider of engineered electronics for performance critical applications.

The company operates in industries where there are structural growth drivers, working with market-leading customers primarily in the industrial, medical, aerospace and defence sectors. Products designed and manufactured include sensors, power management devices and connectivity solutions. TT has design and manufacturing facilities in the UK, US, Sweden and Asia.

The company has three divisions. The Sensors and Specialist Components division works with customers to develop standard and customised solutions including sensors and power management devices. Our solutions improve the precision, speed and reliability of critical aspects of our customers' applications. The Power and Connectivity division designs and manufactures power application products and connectivity devices which enable the capture and wireless transfer of data. We collaborate with our customers to develop innovative solutions to optimise their electronic systems. The Global Manufacturing Solutions division provides manufacturing services and engineering solutions for our product divisions and to customers that often require a lower volume and higher mix of different products. We manufacture complex integrated product assemblies for our customers and provide engineering services including designing testing solutions and value-engineering.

For more information about TT Electronics visit www.ttelectronics.com.