(Reuters) - British industrial components distributor Diploma Plc (>> Diploma PLC) on Tuesday appointed Richard Ingram as its new chief executive, replacing Bruce Thompson who announced his intention to retire in September last year.

The company, a supplier of components for Formula 1 cars, said Thompson would hand over his CEO responsibilities to Ingram at the board meeting on May 8.

Diploma said Ingram, who has been the president of Smiths Detection, a unit of engineering company Smiths Group Plc (>> Smiths Group) since May 2014, will join the Board on April 23 as CEO.

(Reporting by Radhika Rukmangadhan in Bengaluru)

Stocks treated in this article : Diploma PLC, Smiths Group