TT Electronics, a listed business based in Woking, has appointed Phil Swash as independent non-executive chairman. He will take up the post following the conclusion of the company’s Annual General Meeting on 15 May 2026.
Swash has a background in global engineering, having held roles at Airbus, BAE Systems, GKN, Latecoere, and Survitec. He is currently the non-executive chairman of Survitec Group Ltd and a non-executive director of Cael Nova, with experience in the aerospace, defence, automotive, and marine sectors.
The appointment was made following a search by the Nomination Committee, supported by Korn Ferry and major shareholders. While Swash has previously worked as an industry expert with DBAY Advisors, the largest shareholder in TT Electronics, the board conducted due diligence and confirmed his independence under the UK Corporate Governance Code. This follows a period where DBAY Advisors withdrew bid interest in December, resulting in no final offer for the company.
Chief executive Eric Lakin said: “I am delighted to welcome Phil to TT Electronics. He has a wealth of industry experience and he brings an in-depth knowledge of the aerospace and defence sector. He joins us at a time when we continue to execute on our strategic direction and strong platform for growth, underpinned by our four priorities of divisional realignment, cost reduction, sales transformation and portfolio optimisation.”
Phil Swash, chair designate, added: “I believe that TT Electronics has huge potential, I am excited by the opportunity and look forward to working closely with Eric and the rest of the TT Board in contributing to the business and its growth strategy.”
The company also confirmed further changes to its board. Anne Thorburn will stand down as senior independent director and chair of the Audit Committee once a successor is found. Additionally, non-executive director Mick Ord will not seek re-election at the upcoming AGM to focus on other business interests.
Current chair Warren Tucker said: “Since Covid TT and the board have been required to navigate a number of challenges; Mick and Anne have been pivotal in doing so and have worked relentlessly to use their expertise, business experience and judgement to help put TT in the best possible position to succeed. On behalf of the board and the company, I would like to express our huge gratitude for their service, and also thank Anne for agreeing to remain until her successor has been recruited”.
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