Cap-XX Ltd on Tuesday announced its Chief Financial Officer Mike Taylor has decided to retire after 16 years in the role, and will officially depart the company on Friday.

The Sydney-based manufacturer of supercapacitors for portable electronic devices said Ruvina Dissanayake, who joined the firm on Monday as financial controller, will assume his responsibilites.

‘Dissanayake has a wealth of finance and accounting experience in a range of businesses, including those in the pharmaceutical, mining, construction and tertiary education sectors,’ Cap-XX said.

Taylor’s responsibilities as company secretary will be assumed by a consultant to CAP-XX, which the firm said ‘better suits the size of the company and the requirements of the role.’

Commenting on Taylor’s departure, Chief Executive Officer Lars Stegmann said: ‘The board would like to thank Mike for his many years of service to the company. We wish him an enjoyable retirement. We are delighted that Ruvina has joined the CAP-XX team and I look forward to working with her as she gets to know the CAP-XX business’.

Shares in Cap-XX were down 1.7% at 0.42 pence each in London on Tuesday afternoon.

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