Torotrak, which makes energy conserving vehicle transmission systems, is saying goodbye to its long serving Chief Executive, Dick Elsy.
Elsy, who has run the firm for 10 years has been appointed as the Chief Executive of a government initiative known as the "High Value Manufacturing Catapult".
He will be replaced on September 28th by the current Finance and Commercial Director, Jeremy Deering.
Subscribe to 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
Elsy commented: "It's not an easy decision to leave Torotrak at such an exciting time when our plans are really starting to deliver, but I've been asked to take a leading role in the Government's aims to rebalance the UK economy towards high value manufacturing and it's something I want to do on a personal level."
Torotrak shares were down 2.3% at 09:45 but have gained over 5% since the start of the year.
BS
-
‘I installed a heat pump in my home – here are five things I’ve learnt’From the size and noise of a heat pump to how much it costs to run one, Ruth Emery reveals what she’s learnt after installing one in her home six months ago
-
3 ways to work out if a stock is good valueThe only thing you can really control in investing is the price you pay for an asset – but how can you tell if you’re getting a good deal when it comes to the price of a stock?
