New board members for FTSE listed engineering firm Renishaw

The Gloucestershire-headquartered company has added to its leadership team

Gloucestershire engineering firm Renishaw has refreshed its board with three appointments, including a renowned British academic as its new chair. The news of the appointments come just months after the precision manufacturer confirmed it had made ownership changes to the business as part of a succession plan.

On Wednesday (April 8) Renishaw told investors it had appointed Sir David Grant as its permanent chair with immediate effect for a period of up to two years. Sir David was previously a company non-executive director and also chair of the nomination committee – a role he will retain.

The Wotton-under-Edge-based business also announced the appointment of former Smiths Group finance boss John Shipsey as chief financial officer and executive director. Mr Shipsey, who worked for Dyson for 12 years and has held strategy roles at alcoholic drink brand giant Diageo, will join the board on April 13.

Sir David said: “I would like to warmly welcome John to Renishaw and its board. John brings a deep understanding of the industrials sector and its associated performance drivers. He has a strong track record of leading high-performing finance functions, and we look forward to him strengthening both the board and executive leadership team.”

Renishaw also confirmed that Juliette Stacey had been appointed to the role of senior independent director with immediate effect. Ms Stacey took up the role of independent non-executive director of the FTSE-250 company in January 2022 and has been chair of the audit committee and served as a member of the nomination and remuneration committees since her appointment.

In the statement to the stock market, Renishaw said it would continue the search process for the company’s next chair, with the aim of making an appointment by 2028. The company is also continuing its search for an additional independent non-executive director.

Renishaw was established by the late Sir David McMurtry and John Deer in 1973 and floated on the stock market a decade later. The firm’s first product, the touch-trigger probe, was invented by Sir David to solve a specific inspection requirement for the Olympus engines used in Concorde.