Sir David McMurtry to step down as Renishaw chairman

Sir David McMurtry, the founder of Gloucestershire-headquartered global manufacturing Renishaw plc, is to step down as the company's Executive Chairman next month.

The 84-year-old engineer founded the Company with John Deer over 50 years ago and has been instrumental in driving the success of the business both as Chief Executive and as Executive Chair. He will remain on the Board as a Non-Executive Director continuing to provide specific expertise on product innovation. Sir David Grant, the Senior Independent Director, will assume the role of Interim Non-Executive Chairman whilst the Board commences a process to appoint a permanent successor.

The success of Renishaw was based on Sir David's invention of the touch trigger probe.

This solved a dimensional measurement problem faced by Rolls-Royce when manufacturing the Olympus engines that powered the supersonic Concorde aircraft.

But the McMurtry family will still be involved. Sir David McMurtry's son, Richard McMurtry, will be appointed as an additional Non-Executive Director. Richard is a highly experienced director of various businesses and an investor who supports start-up companies committed to developing the future of innovation in the UK. He trained as an engineer with significant involvement in product development and robotic systems.

Listed on the London Stock Exchange’s FTSE 250 Index, Renishaw has a current valuation of around £3 billion.

The company employs 5,200 people in 36 countries including 3 400 staff at its sites in the UK- primarily here in Gloucestershire and South Wales.