Invensys, the industrial technology company, has appointed a new Chief Executive of its biggest division, 'Operations Management'.
Michael Caliel will take over from the current boss Sudipta Bhattacharya who will help with the handover until next year when he will leave the company.
Caliel worked for Invensys between 1993 and 2006 for the 'Process Systems' unit which was a pre-cursor of the division he will now lead.
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Operations Management provides the control and monitoring systems for nuclear and fossil fuel power stations, oil refineries and factories. In the half year to the end of September it had revenues of £618m.
Wayne Edmunds, Chief Executive of Invensys, commented: "I am delighted to welcome Mike back into a role which is very familiar to him. His enthusiasm and drive will now be directed to building on the division's strong market positions."
Invensys shares were broadly flat today. Over the year-to-date the firm's stock has fallen 44%.
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