9 January 2025
Oxford Instruments
plc
Chief Financial Officer
succession
Oxford Instruments plc ("the
Company"), a global provider of high technology products and
services to many of the world's leading companies and scientific
research communities, today announces succession plans for the role
of Chief Financial Officer ("CFO") to the Company.
After nearly nine years with the
Company, Gavin Hill has agreed with the Board that he will step
down from the Board and his role of CFO on 31 March 2025, the end
of the financial year. He will remain actively involved with the
Company until June 2025 to support a smooth transition.
After a rigorous search process, Paul
Fry will be appointed as CFO. He joins the Company from today
(9 January 2025), initially in a non-Board role, before being
appointed to the Board and taking up the role of CFO on 1 April
2025.
Paul has a strong track record in
senior positions at international healthcare and technology
companies, having held the roles of CFO, most recently at Argenta
Group and previously at Vectura plc and Immunocore Limited. With a
career spanning more than 25 years, Paul has also held a number of
senior roles at Vodafone and GlaxoSmithKline. He is also currently
a Non-Executive Director and Chair of the Audit Committee at
AIM-listed healthcare company Avacta Group plc.
Richard Tyson, CEO, said:
"The Board would like to thank Gavin for the very significant
contribution he has made to the success of Oxford Instruments over
nearly nine years, and I am especially grateful for his support to
me since I joined as CEO. He has been a strong steward of the
Company's finances throughout his tenure, shaping our growth and
building the foundations for ongoing success. He is enormously well
respected and liked by both colleagues and stakeholders, and leaves
with our very best wishes for the future.
I
am delighted that Paul will be joining us for the next phase of our
growth. He brings a wealth of highly relevant experience in
business transformation, a clear understanding of our growth
drivers, and a shared commitment to our purpose and values-led
approach.
I
look forward to working with Paul and the wider leadership team to
continue to deliver our exciting plans for the future of Oxford
Instruments."
Gavin Hill, CFO, said:
"I
am really proud to have played a role in the considerable
achievements made at Oxford Instruments over recent years. Since I
joined in early 2016, we have tripled the share price of the
Company, providing value for shareholders, great opportunities for
our employees and more advanced technologies for our customers. I
look forward to seeing Oxford Instruments continue its growth
trajectory from the strong position that it is in
now."
Paul
Fry, CFO designate, said:
"I'm thrilled to be joining Oxford Instruments, one of the
UK's most exciting and innovative technology growth stories, with a
remarkable track record and a clear vision for the
future.
I
look forward to working with Richard and the leadership team to
grow the business and improve returns over the medium
term."
The remuneration arrangements
relating to Gavin Hill's departure will be in line with Oxford
Instruments plc's shareholder-approved Remuneration Policy and will
be disclosed in accordance with section 430(2B) of the Companies
Act 2006 on the Company's website and in the Directors'
Remuneration Report, when he steps down from the Board.
Paul Fry is currently Non-Executive
Director and Chair of the Audit Committee at Avacta Group plc, a
role he has held since February 2020; he held the role of CFO and
Executive Director at Vectura plc from October 2018 to March 2022,
including a period as acting CEO from 30 June 2019 to 7 November
2019. Paul's remuneration arrangements are in line with the
shareholder-approved Remuneration Policy and will be disclosed in
the Directors' Remuneration Report contained within the Annual
Report for the year ended 31 March 2025. There are no further
matters that require disclosure under 6.4.8R of the UK Listing
Rules in relation to his appointment.
LEI number of Oxford Instruments plc:
213800J364EZD6UCE231
Enquiries:
Oxford Instruments plc
Richard Tyson, Chief Executive
Officer
Gavin Hill, Chief Financial
Officer
Stephen Lamacraft, Head of Investor
Relations
Tel:
01865 393200
investors@oxinst.com
MHP
Group
Katie Hunt/Tim Rowntree/Veronica
Farah
Tel:
07884 494112
oxfordinstruments@mhpgroup.com
Issued for and on behalf of Oxford
Instruments plc
Notes to Editors
About Oxford Instruments plc
Oxford Instruments provides academic
and commercial organisations worldwide with market-leading
scientific technology and expertise across its key market segments:
materials analysis, semiconductor, and healthcare & life
science.
Innovation is the driving force
behind Oxford Instruments' growth and success, supporting its core
purpose to accelerate the breakthroughs that create a brighter
future for our world. The vigorous search for new ways to make our
world greener, healthier and more productive is driving
unprecedented levels of R&D investment in new materials and
techniques to support productivity and decarbonisation worldwide,
creating a significant opportunity for Oxford Instruments to
grow.
Oxford Instruments holds a unique
position to anticipate global drivers and connect academic
researchers with commercial applications engineers, acting as a
catalyst that powers real world progress.
Founded in 1959 as the first
technology business to be spun out from Oxford University, Oxford Instruments is now
a global company listed on the FTSE250 index of the London Stock
Exchange (OXIG).
For more information, visit
www.oxinst.com
