Search for new boss as Filtronic chief quits after five years at firm
ROB SMITH, the chief executive of mobile technology firm Filtronic, has resigned with immediate effect after five years with the company.
Chairman Reg Gott will become executive chairman of the Leeds-based firm whilst a search starts for a new CEO.
Analyst Lorne Daniels at FinnCap said: “Rob feels that after guiding the company through a difficult period, settling the warranty claim and wrestling with the future of the Telecom Antennas Operation, now is the time for him to look for fresh opportunities and to hand over to someone else to take the company forward.”
Mr Smith said: “I have greatly enjoyed my five years at Filtronic. It has been full of challenges with never a dull moment.
“However, having seen the company through a difficult past year and into clearer waters, I believe now is the time for me to seek fresh opportunities and to hand the baton over to someone else to take the company forward from here.”
Mr Gott added: “The board would like to thank Rob for his support and dedication over the last five years, particularly during a very challenging last year for the company.”
Mr Daniels said Mr Smith’s departure comes at a time of both the capacity expansion at Sedgefield and the antenna business sale process.
”But there is a strong board and management team and we have confidence in Reg Gott and the FD, Michael Tyerman, to take the business forward in the near term,” Mr Daniels added.
Last week Filtronic said it had concluded a challenging year, but has entered the new year with optimism as it capitalises on strong demand for 5G products.
The firm reported a fall in revenue and profit in the year to May 31, but said it has numerous opportunities to deliver significant organic growth.