Shares in Structural Monitoring Systems jumped 10 per cent on the news that seasoned professional director and consultant Ross Love had been appointed executive chair.
It represents a high-profile recruit for ASX-listed Structural Monitoring Systems (SMS), which is working to commercialise its aircraft testing technology.
Mr Love, who will take up the executive chair role effective immediately, touts an extensive career in the public and private sector.
Since returning to Perth following a 25-year career with Boston Consulting Group in New York, Mr Love served as a senior advisor to the state government and to mining magnate Andrew Forrest.
Earlier in his career he was chief of staff to the Premier of Western Australia between 1990 and 1993.
At present, he sits as non-executive chair of Water Corporation and Fremantle Ports and is an associate partner at local consulting firm, Paatsch Group.
His appointment follows a recent board restructure at Claremont-based SMS, during which it also said it would look to cut down expenditure at a board and executive level.
Mr Love said he was joining SMS at an important time in its history.
“I am looking forward to joining the board of SMS and working with the other board members and broader management and organisational team to ensure that SMS is able to capitalise on the significant milestones it has achieved to date,” Mr Love.
“The company has significant potential both for growth within the global aviation industry and other targeted sectors and I look forward to being part of a leadership team that helps take the company to the next level.”
Mr Love will be remunerated $325,000 per annum plus superannuation.
SMS shares were up 9.8 per cent at 12:37pm AEST to trade at 50 cents.