Leeds-based Filtronic's CEO resigns with immediate effect

In a statement, Leeds-based Filtronic, said "the company has agreed with Rob Smith that he will be resigning from his position as CEO after five years with the company, with immediate effect."

The statement added: "Reg Gott, existing chairman of Filtronic will become executive chairman of the group while the company conducts a comprehensive search for its next chief executive, a further announcement will be made in due course."

Mr Smith commented: "I have greatly enjoyed my five years at Filtronic. It has been full of challenges with never a dull moment. However, having seen the company through a difficult past year and into clearer waters, I believe now is the time for me to seek fresh opportunities and to hand the baton over to someone else to take the company forward from here.

Reg Gott, Executive Chairman commented: "The board would like to thank Rob for his support and dedication over the last 5 years, particularly during a very challenging last year for the company."

Last month, Filtronic said it had concluded a challenging year, but has entered the new year with optimism as it capitalises on strong demand for 5G products.

The firm reported a fall in revenue and profit in the year to May 31, but said it has numerous opportunities with the potential to deliver significant organic growth.