TP Group plc has announced that Richard King will stand down from his position as Non-Executive Chairman of the Board with effect from 31 December 2016. Richard was appointed to the Board in February 2011, becoming Non-Executive Chairman in March 2013. He oversaw the evolution of the Group from a loss-making research and development business into a profitable Tier 2 services and engineering business in industrial and defence sectors and continuing this progress with a positive outlook. Richard will continue with his charity work whilst exploring new opportunities alongside his other business interests. Andrew McCree will take over as Non-Executive Chairman and the company has commenced the search for an additional, suitably qualified, independent non-executive director and will update shareholders accordingly.