Titomic appoints board directors as current chairman retires
June 22, 2020
Titomic Ltd, Melbourne, Australia, has appointed Dag Stromme and Humphrey Nolan to its Board of Directors coinciding with the retirement of Philip Vafiadis, the current chairman.
“We are delighted to have attracted to Titomic the calibre of Mr Stromme and Mr Nolan as new Directors,” stated Jeff Lang, Titomic’s founder and interim executive chairman. “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.”
Stromme is a professional investor and entrepreneur with nearly thirty years of experience from successful private ownership and leading European and global financial institutions, including Morgan Stanley. He is said to bring a deep understanding of global financial markets, a strong market reputation and a network which spans across geographies and stakeholders.
Stromme’s investment interests are said to be primarily focused on growth companies within healthcare and technology looking to solve global challenges, while also holding a number of board directorships at public and private companies. Stromme currently holds 784,274 fully paid ordinary shares in Titomic, and his role of non-executive director at Titomic commences on July 1, 2020.
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.”
Nolan is a seasoned board member and CEO with thirty years of experience driving strategic and operational change across industrial, logistics and distribution industries. He 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. 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. His role of non-executive director at Titomic commences on July 1, 2020.
Nolan noted, “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.”
Titomic stated that the board wishes to thank Vafiadis for his contribution to Titomic since being appointed chairman prior to its listing on the ASX in September 2017. Vafiadis is expected to remain a strategic advisor to the company at the request of the board under a two-year consulting agreement. Lang will assume the role of interim executive chairman with a new chairman of the board to be appointed soon.