Renishaw's finance head to step down after 46 years with UK group

(Reuters) -British engineering firm Renishaw said on Thursday that its Group Finance Director Allen Roberts will step down at the end of the year, ending a 46-year career at the company.

Roberts was appointed as finance head in 1980, and has remained in the position since, and in recent years has seen Renishaw through strategy changes, COVID-19 lockdowns, and U.S. tariff pressures.

The company has commenced a search to recruit a chief financial officer, it said.

Renishaw has proposed passing on additional costs from U.S. tariffs to customers as it grapples with the levies due to the use of high-grade metals in its products, along with exposure through customers in aerospace, automotive and industrial machinery sectors.

The company on Thursday forecast annual revenue around the middle of the 700 million pounds to 720 million pounds ($941.57 million to $968.47 million) range, and adjusted pre-tax profit towards the top end of 109 million pounds to 127 million pounds band.

Renishaw shares have fallen 11.7% so far this year.

($1 = 0.7434 pounds)

(Reporting by Unnamalai L in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)