Strix Group has announced the appointment of Andy Rainforth as its new CEO, replacing Mark Bartlett who retired at the end of May. Andy will commence his new role on 13 July. Andy's experience underpins his suitability to the role of CEO of Strix Group. He has previously been employed by several international manufacturing and technology businesses and has a strong track record of delivering profitable growth, driving operational improvements and value creation. We expect him to attend the forthcoming preliminary results in late June/early July, although we would not anticipate any change in the future strategy of the Group to be communicated to investors before the autumn. With no reason to adjust estimates at this stage, we retain our fair value assumption of 62p / share.