Seeing Machines makes several leadership changes as part of 'reset'
Seeing Machines Ltd. NPV (DI)
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08:35 24/04/24
Computer vision technology company Seeing Machines announced a number of leadership changes on Thursday, confirming that its current fleet general manager and interim chief executive officer Paul McGlone has been appointed CEO on a permanent basis, with immediate effect.
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The AIM-traded firm said he would also join the board as an executive director.
It said McGlone had “significant” experience in management, public company leadership as well as logistics, supply chain management and technology driven businesses.
Chief financial officer Luke Oxenham had informed the board of his intention to resign as a director, and to leave the company at the end of July to pursue an opportunity in his home town of Sydney, the board also said.
Michael Cameron - which it described as an “experienced CFO” with “significant” listed company experience - had been appointed interim CFO, while a formal process was undertaken to find a permanent replacement.
Seeing Machines said Cameron had most recently been engaged with KPMG's CFO Advisory Services, and specialised as an interim CFO.
Before that, he was the CFO of Alltype Engineering for more than six years.
Cameron is a Chartered Accountant, holds an executive MBA, and is a graduate of the Institute of Company Directors.
He was expected to start immediately, and would work with Oxenham in the coming four weeks to ensure an orderly transition.
Seeing Machines said that during his time as interim CEO, Paul McGlone had “reset” the company's strategy to continue to build market share across the automotive and fleet divisions in the near term, while also leveraging its significant intellectual property across a number of other transport verticals.
Some senior leadership changes had been implemented, in order to effect those changes, the board explained.
It said Dr Mike Lenné would succeed Paul McGlone as fleet general manager, and had also been appointed senior vice-president of fleet and human factors.
Lenné had established the company's “unique” human factors approach over the past five years, developing and mining “significant” datasets to validate and inform the ongoing advancement of its platform technology.
He had led numerous public-private partnerships to achieve that, and had a “deep understanding” of the fleet business and the ‘Guardian’ product, the directors said.
Lenné’s reputation as a preeminent expert in driver safety, as well as his “sound” commercial competence, would ensure Guardian continued to deliver on driver safety across the global fleet industry, while providing improved returns to Seeing Machines.
He would continue to influence the global driver safety agenda as human factors lead, the board claimed, as well as maintain “crucial” relationships with customers, partners and regulatory bodies around the world.
Ryan Murphy, chief operating officer and company secretary, would relinquish the role of company secretary to enable him to broaden his focus as COO.
That would include leveraging the company's intellectual property assets, which would allow Seeing Machines to pursue profitable business across a wider range of customers more rapidly, the board said.
It added that it would involve working with various customers and partners to explore potential new revenue streams across the firm’s existing markets.
Susan Dalliston, Seeing Machines' general counsel, would assume the role of company secretary from Ryan Murphy, effective immediately.
The directors said Dalliston was an experienced company secretary, and would continue to work with Murphy to ensure a smooth transition.
“On behalf of the board, I am delighted to welcome Paul to the position of CEO,” said interim chair Kate Hill.
“Paul is already well established in the business, has strong relationships with the management group and has developed a deep understanding of the technology since he joined us in 2018.
“During his time at Seeing Machines, he has clearly demonstrated the qualities required to steer the company successfully through the next, highly promising phase of its growth.”
Hill said the executive changes were “critical” to allow the company to deliver on its reset strategy, adding that the firm was “fortunate” to be able to welcome Cameron, Murphy and Dalliston to their expanded roles within the business.
“We thank Luke for his contribution to Seeing Machines, in particular for the continued maturing of the finance function under his leadership, and wish him success in his new role.
“Personally, I look forward to working closely with Paul and his team to deliver value to shareholders through maintaining a clear focus on the needs of our employees, customers and partners.”