Light-emitting diode (LED) specialist Dialight has confirmed Chairman Harry Tee will formally step down on the twelfth of September after more than twenty years at the firm.
Tee, who retired as Chief Executive of Dialight in 2005, will be replaced by Bill Ronald, currently Senior Independent Director and Chairman of the firm's remuneration committee.
"The board wishes Harry all the best for his retirement and thanks him for his outstanding contribution to the company for more than 20 years," the Dialight statement said.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Bill brings great experience to his new role as Chairman and the Executive look forward to working closely with him to continue the execution of the already successful strategy of the company."
Ronald has been a Non-Executive Director since May 2009 and is also Chairman of the Compleat Food Group and Senior Independent Director of Halfords Group.
Tee was awarded a CBE in the Queen's Birthday Honours List in 2008 for services to the electronics industry.
-
FCA car finance compensation: £700 each expected for 14 million driversEligible motorists could begin getting a payout from next year under the financial watchdog’s planned car finance compensation scheme
-
Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyersRachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
