Thomas hands Veris reins back to Lamond

29/03/2017 - 10:26

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Adam Lamond will return to the helm of the diversified company he established in 2003, after Simon Thomas announced his resignation from Veris, formerly known as OTOC.

Adam Lamond will return to the role of CEO at Veris. Photo: Attila Csaszar

Adam Lamond will return to the helm of the diversified company he established in 2003, after Simon Thomas announced his resignation from Veris, formerly known as OTOC.

Veris announced this morning that its board had accepted Mr Thomas’s resignation, ending his three-year tenure in the role.

He will be succeeded by executive director Mr Lamond, who founded the business in 2003 as a private electrical contractor by the name Ocean to Outback Contracting.

Mr Lamond served as chief executive from 2011 to 2014, after its ASX listing, and has continued as a director since then.

The company paid tribute to Mr Thomas, who diversified Veris away from the Western Australian resources market into a diversified, national surveying business

Mr Thomas has brought together leading businesses through an aggressive period of strategic acquisitions to create an impressive national platform in line with the initial phase of the company’s growth strategy,” Veris said.

Mr Lamond will pick up where Mr Thomas left off, and will continue a group-wide strategic and operational review of the company.

“A key focus of the review will be to identify cost and integration savings with a view to fast tracking the national integration of the surveying business in order to develop a strong and dominant brand in the surveying and spatial sector in Australia,” it said.

Mr Lamond will receive a base salary of $395,000 per annum plus superannuation and incentives.

Veris shares were 3.2 per cent lower to 15 cents each at 10:15am.

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