Diploma PLC (DPLM.L), on Thursday, announced that Chief Financial Officer Chris Davies has resigned from his role and stepped down from the Board with immediate effect, following a lapse in personal conduct at a recent company event.
The company emphasized that the resignation is unrelated to its financial performance, and its full-year 2025 guidance remains unchanged.
Wilson Ng, currently Group Financial Controller, has been appointed Acting CFO. Ng joined Diploma in 2022 and brings over two decades of international finance experience, including senior roles at Spirax Group plc and GKN plc across Europe and Asia. He is a chartered accountant with ICAEW accreditation.
Diploma stated that no payments will be made to Davies for loss of office, and details of his remuneration arrangements will be published on the company's website in accordance with section 430(2B) of the Companies Act 2006.
The Board has initiated a formal process to identify a permanent successor.
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