LONDON (ShareCast) - (Sharecast News) - Oxford Instruments announced a planned transition in its chief financial officer role on Thursday, with Gavin Hill to step down from the board and his position on 31 March, at the end of the financial year, after almost nine years with the company.
The London-listed firm said he would remain with Oxford Instruments until June to ensure a smooth handover.

Paul Fry had meanwhile been appointed as the incoming CFO following a search process.

He was joining the company effective Thursday in a non-board role, and would officially take over as CFO and join the board on 1 April.

The company said Fry would bring extensive experience in senior financial roles across international healthcare and technology companies.

He previously served as CFO at Argenta Group, Vectura, and Immunocore.

His career also included senior positions at Vodafone and GSK, as well as his current role as non-executive director and chair of the audit committee at the AIM-listed Avacta Group.

"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," said chief executive officer Richard Tyson.

"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."

Tyson added that he was "delighted" that Fry would join the firm for "the next phase" of 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."

At 1135 GMT, shares in Oxford Instruments were down 1.23% at 2,015p.

Reporting by Josh White for Sharecast.com.

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