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Velocity Composites plc announced that Rob Smith will retire from his role as Chief Financial Officer and from the Board by 31 October 2026, subject to a suitable replacement taking office. Mr. Smith, who was appointed CFO in 2024, will continue in the role until the end of the current financial year and will remain with the Company as Company Secretary. The Board has initiated a process to identify a successor Chief Financial Officer.
| Date | 23 Apr 2026 |
| Time | 07:00:07 |
| Category | Board changes |
| ID | 6394B |
23 April 2026
Velocity Composites plc
("Velocity" or the "Company")
Board Change
Velocity Composites plc (AIM: VEL), the leading supplier of advanced composite material kits to the aerospace market, today announces that Rob Smith has informed the Board of his intention to retire from the role of Chief Financial Officer and from the Board by 31 October 2026, subject to a suitable replacement taking office.
Rob was appointed Chief Financial Officer in 2024 and, since that time, has helped oversee the Company's progress through a period of significant operational and commercial development.
Rob Smith will continue to serve as Chief Financial Officer until the end of the current financial year, while supporting a comprehensive handover to his eventual successor. Following his retirement from the Board, he will remain with the Company in his capacity as Company Secretary, ensuring continuity and ongoing support.
The Board has commenced 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.
Andy Beaden, Chairman, Velocity, said: "Rob has made a substantial contribution to Velocity since his appointment, providing steady financial leadership during a period of important development for the Company. We are grateful for his commitment in remaining with the business through to the end of the financial year and for agreeing to continue as Company Secretary, which will greatly assist the transition and ensure continuity for the Company."
Enquiries:
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Velocity Composites plc Jon Bridges, Chief Executive Officer Rob Smith, Group Chief Financial Officer
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+44 (0) 1282 577577 |
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Canaccord Genuity Limited Nominated Adviser and Joint Broker Max Hartley George Grainger
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+44 (0) 20 7523 8000 |
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Singer Capital Markets Joint Broker Russell Cook Dan Ingram
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+44 (0) 20 3903 7715 |
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SEC Newgate Financial Communications Robin Tozer George Esmond Harry Handyside |
+44 (0)7540 106 366 |
About Velocity Composites plc
Based in Burnley, UK, Velocity is the leading supplier of composite material kits to the aerospace industry, that reduce costs and improve sustainability. Customers include Airbus, Boeing, and GKN.
By using Velocity's proprietary technology, manufacturers can also free up internal resources to focus on their core business. Velocity has significant potential for expansion, both in the UK and abroad, including into new market areas, such as wind energy, urban air mobility and electric vehicles, where the demand for composites is expected to grow.