London-based Dialight — a global manufacturer of LED lighting solutions for industrial applications — has new leadership for two of its top executive positions.

The company announced Feb. 16 that Fariyal Khanbabi decided to step down as CEO and as a director of the firm immediately, succeeded by then-board member Steve Blair. Khanbabi had been with Dialight since 2014 and served as its CEO since March 2020.

Three days later, Dialight announced that Blair — a non-executive director — had stepped down as a senior independent director and from his board member committee appointments.

Those developments followed Dialight’s Jan. 30 announcement that it had appointed Carolyn Zhang as its new CFO and executive director of the group, effective Feb. 1. She is based out of Dialight’s main finance hub in Farmingdale, NJ.

Also on Feb. 19, Dialight share its 2023 full-year financial results, led by group revenue of $182 million that was down 12% vs. 2022. Group orders were down 5% (constant currency), with Luighting down 2% and Signals & Components down 15%. Gross margin of 31.5% slid from 2022’s 32.2%. The company swung to a pre-tax loss of $18 million from a 2022 profit of $0.7 million.

Dialight has North American headquarters in Farmingdale, NJ. Selling through distribution, it operates in North America, the United Kingdom, mainland Europe, Australia, Asia and South America. The company has approximately 1,800 employees.