Morgan Advanced Materials Plc (MGAM.L) said Thursday that the current Chief Financial Officer or CFO, Richard Armitage, has informed the Board of his intention to retire from his position. Armitage will step down from his role and the Board during the first half of 2027.
The company, which offers specialist thermal solutions, said that the Board has already begun the process to identify a successor, and further details will be released soon. An update will be provided once Armitage's retirement date has been confirmed. Morgan Advanced Materials said in an official statement.
Commenting on the developments, Ian Marchant, Chair of Morgan Advanced Materials, said, "Although he will not be leaving us for some time, I would like to take this opportunity, on behalf of the Board, to thank Richard for his support and invaluable contribution to Morgan. He has helped position the organisation for margin-enhancing growth and led several transformation programmes."
On the LSE, MGAM.L is currently up 1.3 percent on Thursday's trading at 230.50 pence.
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