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Highlights
- Leadership transition: CFO Victoria Balchin promoted to CEO, effective 2 January, following a unanimous board decision.
- Dual responsibilities: Balchin will retain her CFO role while taking on CEO duties, supported by the company secretary.
- Strategic focus: Executive chairman Tom Black to maintain focus on sales during internal function review.
Walk-through security technology specialist Thruvision Group (LSE:THRU) has announced the promotion of its chief financial officer, Victoria Balchin, to chief executive officer, effective 2 January. The AIM-listed company described the internal promotion as a unanimous board decision, signaling confidence in Balchin’s leadership during a pivotal period for the firm.
Balchin, who joined Thruvision in October 2022, has been credited with stabilizing the company following the departure of former CEO Colin Evans in October. Over the past three months, she has worked closely with executive chairman Tom Black to drive a return to growth in the latter half of the financial year.
The dual-role arrangement will see Balchin continue to serve as CFO while assuming her new CEO responsibilities. To support the transition, company secretary Hannah Platt, a qualified accountant, will play an expanded role in managing financial operations.
Tom Black will remain in his executive chairman role with a particular emphasis on overseeing the company’s sales strategy, currently under internal review.
“I am delighted that Victoria is stepping up to chief executive,” Black said. “Having worked with her for two years now and particularly closely over the past three months, I am certain that she is the right person to lead the Thruvision team as we enter a crucial phase on our journey to profitability.”
Balchin’s leadership marks a significant step for Thruvision, as the company seeks to solidify its position in the walk-through security technology sector. With her dual expertise in financial management and strategic leadership, Balchin’s promotion reflects the company’s commitment to continuity and growth.
The leadership changes come at a time of renewed focus for Thruvision as it navigates evolving market conditions and strives for long-term profitability. The dual-role arrangement underscores the importance of maintaining stability while driving forward with strategic initiatives.
Thruvision is poised to enter the new year with a leadership team aligned to deliver on its growth and profitability objectives.
