Following itâ€™s AGM today, Filtronic Plcâ€™s Chairman John Poulter announced in a statement to shareholders, that the AGM had witnessed a resolution dealing with the disposal of the wireless infrastructure business being passed.
He also reminded shareholders that the CEO and original founder and Chairman of Filtronic, David Rhodes would be retiring today. His retirement was announced earlier this year on 31st July.
Poulter also announced the retirement of Rhys Williams from the Board. Poulter and Reg Gott were both appointed to the board in July and have been proposed for election by members today
In the statement Poulter announced: â€œFollowing the disposal of the Wireless Infrastructure business, the priority for the board is to focus on developing the Compound Semiconductors, Defence Electronics and the Point to Point activity.â€
He continued saying: â€Overall, following the disposal of the Wireless Infrastructure business, the scale of the group's activities will be substantially reduced. This will result in operating losses pending the development and reshaping of the group, which the Board is addressing as its priority.â€