Velocity Composites PLC on Wednesday said its Financial Director Adam Holden has stepped down.

Velocity Composites is a Burnley, England-based supplier of composite material kits to aerospace and other high-performance manufacturers.

Holden has stepped down from his position as group finance director & company secretary, with immediate effect. He will leave the company on Thursday next week.

Holden was appointed to the role in November 2022.

Velocity said Holden ‘remains committed to the group until his departure, providing an orderly handover.’

As a result, Velocity has appointed Andrew Hebb as non-board interim chief financial officer & company secretary. Hebb was Velocity’s non-board interim CFO between November 2018 and August 2020.

Velocity will commence a process to identify and appoint a new group finance director & company secretary ‘shortly’.

Velocity Composites shares were flat at 39.00 pence each in London on Wednesday afternoon.

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