Diploma PLC on Wednesday said it has picked Chris Davies to be its new chief financial officer, with the start date to be confirmed in due course.

The London-based specialised technical products and services company said Chris Davies will succeed Barbara Gibbes, who will step down from the role on September 30.

Diploma said Gibbes will remain in her role to support the company through the current financial year. Diploma said that Chief Executive Officer Johnny Thomson will assume supervision of the senior finance team during the interim period from October 1 until the date when Davies joins.

Davies is currently chief financial officer at Birmingham-based coach operator National Express Group PLC, where he has been since 2017. He previously served as group financial controller and then interim CFO at used car dealers firm Inchcape PLC, and CFO for North America at beverage company Diageo PLC.

Thomson said: ‘[Chris Davies] is an experienced CFO with an excellent track record in decentralised, service-led, multi-national organisations. As we continue to scale, he will also be an important support in the delivery of strategy, business performance and a robust financial framework.’

Diploma shares were down 1.0% at 2,630.00 pence each on Wednesday morning in London. National Express shares meanwhile were down 0.7% at 186.13p.

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