Raspberry Pi Holdings PLC (LSE:RPI) announced that chief financial officer Richard Boult will step down in the first half of next year.
Peel Hunt, house broker to the company, said this provides “ample time” for an orderly transition.
The broker, which reiterated its 'add' rating and 460p target price, credited Boult, aged 60, with strengthening the finance function and preparing the company for its 2024 IPO.
Peel said Raspberry Pi continues to make tangible progress despite near-term market volatility, highlighting its exposure to edge AI and industrial markets as key medium-term growth drivers.
“We believe Richard’s decision to allow ample time for succession and support an orderly transition will enable RPi to continue its mission of expanding depth and breadth as it explores industrial and adjacent opportunities with significant tailwinds,” analysts wrote.
The broker also praised the wider leadership team, including CEO Eben Upton, COO James Adams, CTO Gordon Hollingworth, and CCO Mike Buffham, for evolving Raspberry Pi into a “technology leader” with strong operational depth.