Shares dipped after Raspberry Pi announced that Tim Powell, former finance chief at Alpha Group and the London Stock Exchange, will succeed Richard Boult as CFO.
Raspberry Pi Holdings (RPI.L) said on Monday that Tim Powell will become chief financial officer and an executive director from 16 October, taking over from Richard Boult, who is stepping down.
Shares in the Cambridge-based computing firm fell as much as 4% to an intraday low of 814p on Monday morning before paring losses, changing hands at around 847p, close to Friday’s close of 847.5p. The stock has been through a dramatic year, tumbling to a 52-week low of 253.8p in early February before rocketing to an all-time high of 1,082p in early June.
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A finance chief with LSE and M&A pedigree
Powell was most recently CFO of Alpha Group International, where he led its move from AIM to the Main Market of the London Stock Exchange and into the FTSE 250, and its subsequent sale to Corpay. Before that he held senior finance roles at London Stock Exchange Group, including CFO of the London Stock Exchange itself, and was finance lead on the $27bn acquisition and integration of Refinitiv. He is a chartered accountant with an engineering degree from Birmingham University.
Boult, who informed the board of his intention to step down in October 2025, will leave the company on 31 October, allowing a two-week handover with Powell. Chairman Martin Hellawell said: “Tim brings deep experience of scaling fast growing businesses and navigating periods of significant strategic development. His track record at LSEG and Alpha demonstrates his ability to combine financial discipline and operational execution.” Powell said: “Raspberry Pi holds a unique position in UK technology and I am delighted to be joining at this stage in its development.”
The change lands as Raspberry Pi’s shares have swung wildly over the past 12 months, sliding through the second half of 2025 before an insider buying spree in February and a strong set of results in March, when the company reported adjusted EBITDA up 25% to $46.4m, helped fuel the run to June’s record high. The stock has since pulled back roughly 20% from that peak amid ongoing concerns over rising memory chip costs. There has been no broker commentary yet specifically on the CFO change.
Attention now turns to the handover period between October and Boult’s exit, and to whether Powell’s arrival brings any shift in tone on capital allocation or cost management as Raspberry Pi continues to grapple with elevated memory prices. For a stock that has moved from record lows to record highs inside a year, markets will be watching closely to see whether new leadership in the finance seat changes the pace of that ride.