The London-listed firm's shares rose 5.5%, while TT Electronics fell nearly 3% as of 0750 GMT.

Barkshire, who led the nanotechnology tools maker for seven years, will leave after being with the company for more than 25 years, Oxford Instruments said, adding that the date of succession will be announced in due course.

Tyson has been CEO of TT Electronics for more than eight years and has held leadership roles in the technology sector for over 30 years.

TT Electronics said Tyson had made "transformational" changes in the group, leading to improvement in its financial and operational performance.

Oxford Instruments also projected adjusted operating profit for the year ended March 2023 to be ahead of its previous expectations, on strong customer demand in the United States, Europe and Japan, and improvement in supply chain issues.

The UK-based company, which serves various industrial companies and scientific research communities, expects annual group revenue growth to be about 22%, with orders ahead of its revenue.

(Reporting by Anchal Rana in Bengaluru; Editing by Savio D'Souza and Uttaresh Venkateshwaran)