TIDMSEE
RNS Number : 3970E
Seeing Machines Limited
04 July 2019
4 July 2019
Seeing Machines Limited
Leadership changes
Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the
"Company"), the advanced computer vision technology company that
designs AI-powered operator monitoring systems to improve transport
safety, announces the following leadership changes.
Paul McGlone, currently General Manager of the Fleet division
and interim Chief Executive Officer (CEO), has been appointed CEO
on a permanent basis with immediate effect. He will join the board
as an executive director.
Paul has significant experience in management, public company
leadership as well as logistics, supply chain management and
technology driven businesses.
Luke Oxenham, CFO, has 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.
Michael Cameron, an experienced CFO with significant listed
company experience, has been appointed interim CFO while a formal
process is undertaken to find a permanent replacement. Michael has
most recently been engaged with KPMG's CFO Advisory Services and
specialises as an interim CFO. Prior to that he was CFO of Alltype
Engineering Pty Ltd for over six years. He is a Chartered
Accountant, holds an Executive MBA, and is a graduate of the
Institute of Company Directors. Michael is expected to start
immediately and will work with Luke in the coming four weeks to
ensure an orderly transition.
During his time as interim CEO, Paul McGlone has reset the
Company's strategy to continue to build market share across the
Automotive and Fleet divisions in the near term, whilst also
leveraging its significant Intellectual Property (IP) across a
number of other transport verticals. Some senior leadership changes
have been implemented to effect these changes.
Dr Mike Lenné will succeed Paul McGlone as GM of Fleet and has
been appointed SVP, Fleet and Human Factors. Mike has 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 Seeing Machines' industry leading
platform technology. He has led numerous public private
partnerships to achieve this and has a deep understanding of the
Fleet business and the Guardian product. Mike's global reputation
as a preeminent expert in driver safety, as well as his sound
commercial competence, will ensure Guardian continues to deliver on
driver safety across the global fleet industry while providing
improved returns to Seeing Machines. Mike will continue to
influence the global driver safety agenda as Human Factors lead, as
well as maintain crucial relationships with customers, partners and
regulatory bodies around the world.
Ryan Murphy, COO and Company Secretary, will relinquish the role
of Company Secretary to enable him to broaden his focus as COO to
include leveraging the Company's IP assets which will allow Seeing
Machines to pursue profitable business across a wider range of
customers, more rapidly. This will involve working with various
customers and partners to explore potential new revenue streams
across the Company's existing markets.
Susan Dalliston, Seeing Machines' General Counsel, will assume
the role of Company Secretary from Ryan Murphy, effective
immediately. Susan is an experienced Company Secretary, and will
continue to work with Ryan to ensure a smooth transition.
Kate Hill, Interim Chair of the Board, commented:
"On behalf of the Board, I am delighted to welcome Paul to the
position of CEO. 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.
"The executive changes are critical to allow us to deliver on
our reset strategy, and we are fortunate to be able to welcome
Mike, Ryan and Susan 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."
Enquiries:
+61 2 6103
Seeing Machines Limited www.seeingmachines.com 4700
Paul McGlone - CEO
Sophie Nicoll - VP, Marketing & Communications
Cenkos Securities plc (Nominated Adviser and Broker)
Neil McDonald
Beth McKiernan +44 131 220
Pete Lynch 6939
Save for the information set out herein, there are no further
disclosures to be made in accordance with Rule 17, Schedule Two (g)
of the AIM Rules for Companies in respect of the appointment of
Paul McGlone.
Full name Paul Andrew McGlone
Age 54
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Current directorships: None
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Prior directorships from previous Impeto Pty Ltd
5 years:
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This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation
(EU) No. 596/2014. Upon the publication of this announcement,
this inside information is now considered to
be in the public domain.
About Seeing Machines - www.seeingmachines.com
Seeing Machines (LSE: SEE), a global company headquartered in
Australia, is an industry leader in computer vision technologies
which enable machines to see, understand and assist people. The
Company's machine learning vision platform has the know-how to
deliver real-time identification and understanding of drivers
through Artificial Intelligence (AI) analysis of heads, faces and
eyes. This insight enables Driver Monitoring Systems (DMS), which
monitor driver/operator identification and attention and can detect
drowsiness and distraction across multiple transport sectors.
Seeing Machines develops DMS for the Automotive, Commercial
Fleet, Aviation, Rail and Off-Road markets. The Company has offices
in Australia, USA, Europe and Asia, and delivers multi-platform
solutions to industry leaders in each vertical.
DMS is becoming a core safety technology integrated into ADAS
offerings for the automotive industry, particularly with the
development of semi-autonomous and self-driving cars. DMS is also
increasingly seen to be an integral safety feature across the
Commercial Transport & Logistics industry and is set to be
become a regulatory requirement for all cars, vans, trucks and
buses in Europe from 2022, with the rest of the world expected to
follow soon after.
This information is provided by RNS, the news service of the
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END
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