20/03/2008 - 13:49

Orbital CEO steps down

20/03/2008 - 13:49

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Orbital Corporation Ltd managing director Rodney Houston announced today that he will step down form his position as of the end of June 2008.

Orbital Corporation Ltd managing director Rodney Houston announced today that he will step down form his position as of the end of June 2008.

Dr Houston joined the board of the Balcatta-based company in 2005.

He has been employed with the group for 18 years and was director of engineering and operations before his appointment as managing director.

 

Full announcement pasted below:

ORBITAL CEO TO STEP DOWN
International clean energy technology group Orbital Corporation Limited (ASX: OEC - "Orbital") announced today that its Chief Executive Officer, Dr Rodney Houston, would be standing down from his executive role at Orbital.

Peter Day, Chairman of Orbital, said, "On behalf of the Board and all employees, we will be very sad to see Rod leave Orbital after nearly 20 years of successful and productive contribution to the organisation. We fully respect and understand Rod's desire to return to Ireland and give him and his family our very best wishes for the future."

Dr Houston will remain as CEO with Orbital until the end of June and assist with the transition and induction of a new CEO. Dr Houston has also agreed to continue a relationship with Orbital and will take up an appropriate access arrangement.

Dr Houston said, "My decision to step down is a personal one and reflects my desire to embark on a new chapter in my life. This is a wonderfully innovative industry and Orbital is well positioned to take advantage of its existing and emerging clean energy solutions."

The Board has commenced its review for his successor and will consider both internal and external candidates.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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