Chairman Retirement & Appointment of Additional Directors
• Mr. Dag W.R. Stromme, former Managing Director, Morgan Stanley (London, UK) and experienced investor and entrepreneur
• Mr. Humphrey Nolan an experienced commercial leader in global industrial and distribution industries.
• Mr. Jeff Lang, Titomic Founder & MD of Titomic appointed interim-Executive Chairman with Mr Philip Vafiadis retiring as the founding Chairman.
Melbourne, Australia, Monday 22nd June 2020: Leading Australian Industrial Scale Additive Manufacturing Company, Titomic Limited (ASX: TTT), is pleased to announce the appointment of Mr Dag Stromme and Mr Humphrey Nolan to its Board of Directors coinciding with the retirement of current Chairman, Mr. Philip Vafiadis. today.
The Company’s founder and Interim Executive Chairman, Mr Jeff Lang, comments: “We are delighted to have attracted to Titomic the calibre of Mr Stromme and Mr Nolan as new Directors. Both have a proven record of implementing company growth with their extensive international experience working with emerging technologies and commercial strategy in global markets. They also bring deep corporate and technical skills to the Titomic Board that will be invaluable as we advance our global expansion.
Mr. Dag W.R. Stromme Non-Executive Director commencing 1st July 2020. Mr Stromme is a professional investor and entrepreneur with close to 30 years of experience from successful private ownership and leading European and global financial institutions, including Morgan Stanley. Mr. Stromme brings a deep understanding of global financial markets, a strong market reputation, and a network which spans across geographies and stakeholders. Today, Mr. Stromme’s investment interests are primarily focused on growth companies within Healthcare and Technology looking to solve global challenges whilst also holding a number of Board directorships in public and private companies. Mr Stromme currently holds 784,274 fully paid ordinary shares in Titomic.
Incoming Titomic Director Mr Dag W.R. Stromme commented: “I am always eager to pursue opportunities which provide technology enabled solutions and address global challenges. Titomic’s disruptive additive manufacturing technology has an important role to play in making traditional manufacturing much more resource efficient and I look forward to contributing to the further advancement and global expansion of Titomic’s business.”
Mr. Humphrey Nolan Non-Executive Director commencing 1st July 2020. Mr Nolan is a seasoned Board member and CEO with 30 years’ experience in driving strategic and operational change across industrial, logistics and distribution industries. Mr Nolan has held several senior positions with global logistics companies, including with the P&O Group as Head of Corporate Development and CEO of P&O Cold Logistics. Mr Nolan is currently Chairman of both the Nolan Group and Tapex Group, both distributors of technical and industrial textiles operating across Australia and New Zealand.
Incoming Titomic Director Mr Humphrey Nolan commented: “With changes to global supply chains, Titomic is well positioned to provide time and cost-efficient solutions to discrete manufacturing applications across key industries. I am looking forward to being able to support Titomic in realising these opportunities.”
The Board also wishes to thank Mr Vafiadis for his contribution to Titomic since being appointed Chairman of Titomic prior to its listing on the ASX in September 2017. Mr Vafiadis will remain a strategic advisor to the Company at the request of the Board under a 2-year consulting agreement. Mr Lang will assume the role of interim-Executive Chairman with a new Chairman of the Board to be appointed soon.
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About Titomic Limited:
Titomic (ASX:TTT) is headquartered in Melbourne, Australia. Titomic is positioned to change the value proposition of Titanium, to unlock new applications and open opportunities that are now technically and economically viable with its proprietary Titomic Kinetic Fusion™ (TKF) technology platform.
TKF overcomes the limitations of additive manufacturing (3D printing) for metals to manufacture complex parts without shape or size constraints. TKF offers production run capability to organisations, which enables speed-to-market, superior products with lower production inputs using fewer resources for a more sustainable future.