The Board of Directors of Quickstep Holdings Limited (ASX: QHL - "Quickstep") is pleased to announce the appointment of highly experienced international executive, Mr Philippe Odouard, to the position of Chief Executive Officer, effective 13 October 2008, to lead the Company's future growth. In addition, Mr Peter Williams has been appointed Chief Financial Officer, effective 8 September 2008.
Mr Odouard has significant management experience within the global aerospace and defence sectors - both of which are primary target markets for Quickstep's technology. Since 2005, Mr Odouard has held a dual role with Thiess Pty Ltd - one of Australia's largest infrastructure and services contractors - as Senior Manager of Strategy and Business Development: Defence, and Project Director for the A$3 billion Melbourne desalination plant.
Prior to joining Thiess, Mr Odouard held a number of senior management roles within Thomson-CSF (now Thales Group) - a world leader in information systems for the aerospace, defence and security markets. During his time with Thomson, which included roles in both Australia and Europe, Mr Odouard was responsible for managing innovation developments as well as technology transfers. He negotiated and managed long term contracts with major global aerospace and defence groups. Significantly, Mr Odouard managed the Minehunter project, which at the time was the largest user of composites in Australia. In addition, Mr Odouard negotiated and managed significant contracts with Eurocopter when they sold the all-composite Tiger helicopter to the Australian Defence forces.
Quickstep's current CEO, Nick Noble, has announced his decision to retire from the Company, having lead Quickstep since its inception. "I would like to thank Quickstep's team and board members along with the coinventors, Neil Graham and his father Deryck, for their support and inspiration over the last eight years. I maintain my strong belief in the Quickstep Process and its exceptional market opportunities and look forward to watching the commercialisation process come to fruition under the new leadership of Philippe Odouard," Mr Noble said.
Quickstep's Chairman, Mr Mark Jenkins, commented: "We are delighted to announce that Philippe has agreed to join us as Chief Executive Officer to advance the development of our business to the next level. He brings invaluable expertise to the Company in terms of his proven track record of introducing new technologies and negotiating joint ventures and sales contracts with major aerospace and defence customers. His appointment is the culmination of months of interviews and a thorough review of potential candidates as part of a planned management handover after Nick Noble indicated his wish to step back from his duties earlier this year." "Nick has played a vital role in the establishment, listing and development of Quickstep to the point where we now have a global network of showcase sites that have enabled us to form strategic relationships with potential customers - an outstanding platform from which we can build the next phase of growth," Mr Jenkins added. "I thank Nick for his contribution to the Company."
Commenting on his appointment, Philippe Odouard said: "I was attracted by the excellent potential of Quickstep's technology and their strong growth profile. There is a massive expansion in global composites consumption projected over the coming decades. I look forward to leading the Quickstep team into this new phase of growth and development."
In addition Quickstep has also appointed Mr Peter Williams as the Company's Chief Financial Officer. Mr Williams is a senior finance professional with almost 30 years commercial experience gained both domestically and internationally. He comes to Quickstep after two years with ASX listed biodiesel producer, Mission NewEnergy Limited, where he was Finance Director and Company Secretary. Prior to joining Mission NewEnergy, Peter's experience was in the resources sector, including over 20 years working for BHP Billiton where he held a number of very senior positions including Global SAP Business Leader, Vice President Finance for the BHP Minerals Development group; Vice President Finance for the BHP World Minerals group (based in San Francisco); and Group Manager Financial Planning for BHP Minerals. He has been a director of numerous BHP subsidiary companies, and also served as a director of the Big Sky (formerly BHP) Credit Union Ltd from 1993 to 1995 and from 2000 to 2005. He is a Fellow of CPA Australia and a Member of the Australian Institute of Company Directors. Both Mr Odouard and Mr Williams were recruited through international executive recruitment firm, Heidrick & Struggles, following an extensive global recruitment search.
Background on Quickstep Holdings Limited
Australian-based Quickstep Holdings Limited (ASX Code: QHL) is an advanced materials company which owns a scalable platform for the energy efficient manufacture of performance efficient composite materials.
Listed on the Australian Stock Exchange in 2005 following a successful IPO, Quickstep initially raised A$6 million to underpin the worldwide commercialisation of its innovative and proven technology with application in the multi-billion dollar aerospace, automotive, mass transit and renewable energy sectors.
Composites combine high strength with light weight and are key materials in aerospace, automotive, marine, defence, public transport and industrial applications. The global composites parts market is growing strongly, reflecting a shift towards the greater use of composites as an increasingly desirable replacement for metals in many applications because of their high strength and reduced weight.
Quickstep's proprietary process is based around a fluid-based curing technology that significantly reduces the cost and time involved in the production of composites compared with conventional processes. Quickstep has been at the leading edge of the growing need to reduce part costs since the early 1990s, with a significant investment in the development of the Quickstep Process over the past decade.
Quickstep already has automated Quickstep pilot production facilities operating at six separate locations with, aside from its own plant in Fremantle, West Australia; one in Japan; a third at the Victorian Centre for Advanced Materials Manufacturing (VCAMM) in Geelong; a fourth at the North West Composites Centre (NWCC) in Manchester, England in conjunction with the University of Manchester; a fifth in the US at Dayton, Ohio, the birthplace of the aviation industry; and a sixth machine located inside the European Aeronautic Defence & Space Company (EADS) group facilities in Munich, Germany, to support a Cooperation & Development Agreement with Eurocopter, the world's largest helicopter manufacturer, signed in May 2007.
Global alliances are also in place with major international advanced materials suppliers such as Toray Composites (in the USA and Japan) and German-based industrial chemicals and performance materials giant Evonik Industries (formerly Degussa AG), alongside R&D and Applications Development Agreements with groups such as VCAMM and the Australian National University.
Quickstep's business model is self-manufacture, joint venture manufacturing arrangements and co-branding and comarketing agreements with leading composites manufacturers, Original Equipment Manufacturers (OEM's), Tier One suppliers and alliance partners utilising the Quickstep Process.
In November 2007 Macquarie Funds Management, one of Australia's largest investment institutions, acquired a 6% stake in Quickstep, citing strong support for the Company's long term business model.
http://www.quickstep.com.au
Published Date: 23/9/2008
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