Synertec Corporation Ltd (ASX:SOP) has set the wheels in motion for an orderly succession of the chair of its board, selecting Johannes Risseeuw as a non-executive director with plans for him to take up the chair mantle at the end of February 2025.
"I'm delighted to be joining Synertec's Board of Directors at this exciting juncture, with the company now poised to grow,” Risseeuw said.
“The aim is to deliver value for our shareholders, with the current board and management team having laid solid foundations over recent years.
“Both the Technology and Engineering businesses are at exciting inflection points in their growth journey and I look forward to working with the board and management as we execute on this next phase of growth and value creation."
Risseeuw will replace retiring independent non-executive director and chair Dennis Lin, who will retire at the end of February, having led Synertec through a period of transformation as the engineering business expanded and the Powerhouse technology was commercialised.
Delivering on the next phase of growth
"I’m very pleased to welcome Johannes to the board,” Synertec chair Dennis Lin said.
“His wealth of experience and strong track record of delivering value to the businesses he has been involved with across the energy, technology and engineering sectors will be invaluable to Synertec as we grow our Technology and Engineering businesses.
“The board has been working on orderly board transition during the past year with Ian Campbell’s appointment in December 2023, and Peter Lamell in September 2023.
“These recent board appointments and now Johannes’s appointment reflect Synertec’s commitment to strengthen and diversify the skills of our board in line with our ambitious strategic growth goals, as we continue to increase the scale and profile of Synertec and its innovative technologies.
“We are delighted to welcome Johannes to the board of Synertec and as chair-elect.
"There are several key deliverables which I am working on with management over the coming months and will take that time to smoothly transition Johannes onto the board and across the business, enabling me to retire from the board.
“It has been a great privilege to lead the board and work closely with our founder and managing director, Michael Carroll.
“I have thoroughly enjoyed my time with Synertec, which dates back to 2018 originally as an advisor to the board, before being asked to join as a director and later, chair of the board.
“I believe we have added significant value to the business which is now ready to deliver on this next phase of growth and value creation."
Risseeuw will stand for formal election as a director at the 2024 annual general meeting to be held on November 28.