STV chief executive Rob Woodward was on Tuesday appointed non-executive chairman of data erasure and mobile device diagnostics firm Blancco Technology Group, succeeding Matthew Peacock.

Blancco also said its chief financial officer Keith Butcher resigned from the board and the company with immediate effect.

Blancco Technology Group also released its 2016 results on Tuesday and its shares were trading down more than 20% at around 235p, giving it a stock market value of around £140 million.

“After a thorough process — led by the senior independent director, Frank Blin — Rob Woodward, who has been on the board since 2013, has been appointed to the role of chairman,” said Blancco.

“Rob has a wealth of experience in the telecoms media and technology (TMT) sector.

“He is currently chief executive of STV Group plc and was previously commercial director of Channel 4 Television Corporation.

“Aside from his executive and non-executive experience in the sector Rob has substantial corporate finance expertise, having previously been managing director and co-head of European technology at UBS Warburg.

“Earlier in his career he was managing partner of Deloitte’s european TMT business and UK strategy consulting practice.”

Blancco said that former Aggreko and Carillion chairman Philip Rogerson has been appointed non-executive director, taking on on the role of senior independent director from Blin, who will continue as chair of the audit committee.

Rogerson will chair the remuneration committee and will also join the audit committee and nominations committee.

Rogerson is chairman of De La Rue and Bunzl.

Blancco said Simon Herrick had been appointed as interim CFO for a minimum six month period and that a process to appoint Butcher’s permanent successor is underway.

Herrick previously served as CFO of PA Consulting Limited, Kesa Electricals, Northern Foods and Debenhams.

Woodward said: “I am delighted to be taking on the role of chairman and I very much look forward to working with my board colleagues and all the team at Blancco at this exciting stage in its development.”