Velocity Composites (LSE:VEL) has announced that Rob Smith will retire from the role of Chief Financial Officer and from the Board by 31 October, subject to a suitable replacement taking office.
Mr Smith, who was appointed Chief Financial Officer in 2024 and has overseen a period of significant operational and commercial development, will remain as CFO until the end of the current financial year to support a comprehensive handover and will subsequently stay on as Company Secretary to ensure continuity for Velocity, the Burnley-based supplier of composite material kits to the aerospace industry.
The Board has started a process to identify a successor Chief Financial Officer with assistance from a specialist recruitment agency and will make a further announcement in due course.
"Rob has made a substantial contribution to Velocity since his appointment, providing steady financial leadership during a period of important development for the Company," said Andy Beaden, Chairman.
