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LONDON - RC Fornax plc (AIM:RCFX), a UK-based consultancy providing engineering solutions to the defence sector, announced Wednesday the appointment of Richard Smith as a Non-Executive Director, effective immediately.
Smith, who holds FCCA and BA (Hons) qualifications, replaces Kiri Cavill, who has stepped down from the board after serving during the company's IPO and subsequent months. Smith will also assume the role of Chair of the Audit Committee.
The new appointee brings financial leadership experience from previous senior roles including CFO of Raytheon UK & Canada, Finance Director for the UK Ministry of Defence Submarine Programme, and CFO of Leonardo Helicopter Division. His career spans defence, infrastructure, aerospace, and technology sectors.
Smith currently serves as a Non-Executive Director and financial adviser to several SMEs, where he has been involved in securing external financing, restructuring operations, and guiding strategic growth initiatives.
Mark Fahy, Non-Executive Chairman of RC Fornax, said Smith's "industry experience, particularly in defence, infrastructure, and technology, and his extensive network and strategic insight will be invaluable" as the company continues to grow.
Smith commented on his appointment: "I am honoured to join the Board at a critical juncture for RC Fornax. The Company is strongly positioned for substantial growth in response to the UK Ministry of Defence's evolving priorities."
RC Fornax, founded in 2021 by RAF veterans Paul Reeves and Daniel Clark, provides outcome-based engineering solutions to the UK defence industry. The company trades on London's AIM market under the ticker RCFX.
The information was disclosed in a company press release statement.
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