Manufacturer TT Electronics has appointed Eric Lakin as its new CEO four months after he took on the role on an acting basis.
Lakin now officially replaces Peter France, who stepped down from the role in April just 18 months on from joining the listed firm.
At this time, Lakin was serving as the Woking-based company’s CFO designate – a role later filled by ex-Ultra Electronics CFO, Richard Webb, on an interim basis.
The new CEO has over 30 years of experience in the industry and was most recently CFO of Horsham-based Ceres before joining TT.
A University of Cambridge graduate, Lakin has also previously worked in key roles for businesses including BT Group and Smiths Group.
His appointment comes at a turbulent time for the firm, which has been subject to takeover speculation and has seen its share price fluctuate throughout 2025.
Its shares are currently valued at 90.08p – a decrease on the 104p they kicked off at in January.
However, in the four months since Lakin was appointed as acting CFO, the company has seen a share price increase of 20%.
“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,” said Warren Tucker, chair of the board at TT Electronics.
“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.”
Lakin added: “I am very pleased to take on the role of CEO and grateful for the trust placed in me by the Board. I look forward to continuing to work alongside our strong team as we deliver on our commitments to customers, employees, and shareholders.”