Engineering firm Renishaw Plc said on Thursday that group finance director Allen Roberts will not stand for re-election at its upcoming annual general meeting.
Roberts will step down from the board after 46 years with Renishaw on 26 November, but will remain an employee of the FTSE 250-listed group until 31 December. Renishaw added that a process to recruit a chief financial officer had already begun.
Co-founder John Deer said: "Allen has been a huge part of the Renishaw success story. From the first interactions that Sir David McMurtry and I had with him in 1974 it was clear that when the time was right for us to recruit our first finance director, Allen was the person who would help us to shape Renishaw's future.
"The company owes him an enormous debt of gratitude for helping to navigate its financial and strategic development over the past 46 years, notably in establishing its overseas subsidiaries."
Renishaw also said it expects full-year revenues to be around the middle of the £700m to £720m range, while adjusted pre-tax profits were seen towards the top of its £109m to £127m guidance range.
Reporting by Iain Gilbert at Sharecast.com