Alexium Organizational Changes support Product Sales focus; Affirmation of Planned Management Succession
PERTH, AUSTRALIA and GREER, SC–(Marketwired – May 15, 2017) – Alexium International Group Limited (“Alexium,” “the Company,”) (ASX: AJX) (NASDAQ Designation: AXXIY) has affirmed previously announced management succession and highlighted new roles within the Company for several team members as the focus moves to increased commercial product sales across flame retardant (FR) formulations and phase change material (PCM) cooling formulations. The streamlining of Alexium’s organizational structure will capitalize on the strength of Alexium’s existing management team as Dr. Dirk Van Hyning transitions into the CEO role on July 1, 2017.
Dr. Van Hyning, said, “The planned succession changes enable us to capitalize on our growing reputation and brand awareness in both the FR and PCM markets where end use customers are now requesting environmentally friendly and performance enhancing Alexium formulations, by name.”
Nicholas Clark, currently CEO and Executive Director, will continue his role on the board as Executive Director Strategy with a focus on strategy beginning July 1 at an adjusted lower salary commensurate with his new duties. In this capacity, Mr. Clark will oversee the Company’s relations with U.S. Government departments across both defense and commercial sectors and facilitate the Company’s anticipated listing on the NASDAQ.
Gavin Rezos, currently Executive Chairman will transition to Non-Executive Chairman at an adjusted lower salary commensurate with his new duties on July 1. He will retain his current primary responsibility as Chairman of the Board of Directors, overseeing corporate governance and liaising between the Board and management.
Aaron Krech, while retaining the role of Chief Financial Officer, will assist Dr. Van Hyning by assuming additional responsibility for operational efficiencies throughout the Company’s global business and ensuring high-quality customer service. Prior to becoming Alexium’s CFO in 2015, Mr. Krech was Head of Corporate Services at Alexium.
Dr. Robert Brookins’ role recently expanded as VP of Research & Product Development, with the consolidation of Product Development and Research & Development into one department, earlier this year. Prior roles at Alexium included Chief Technology Officer and Head of Research. Dr. Brookins’ previous work at the Air Force Research Laboratory at Tyndall AFB in Florida, experience in organic synthesis, materials chemistry, and chem/bio protection, are just a few examples of the expertise Dr. Brookins brings to this senior position across the full range of our products.
Brian Enlow assumed the role of VP of Finance earlier this year. Previously Alexium’s Financial Reporting Manager, Brian’s professional background includes public accounting, both audit and taxation, as well as corporate accounting roles focusing on financial reporting and cost accounting. Mr. Enlow’s responsibilities include the day-to-day fiscal management of the business, management of the finance team and responsibility for all aspects of budget management, auditing, and financial reporting.
Nick Clark, CEO of Alexium, said, “One of my main focuses has been placing the right people in the right roles. I am confident that Alexium’s very experienced team will help the Company grow in its existing markets while opening up new markets for its specialty chemicals. We have already begun to benefit from this global expansion, with quarterly revenues increasing 92 percent quarter on quarter in the third quarter of financial year 2017, with higher gross margins each quarter. I look forward to Dirk guiding the company into the next phase of growth and achieving new milestones in product development and sales, as well as working with Dirk and the team, in my new role as Executive Director Strategy, to help pave the way for US Government related opportunities.”
Gavin Rezos, Chairman, said, “Alexium has reached a level of maturity and depth of executive staff to enable greater specialization within our management to capitalize on the many opportunities being presented for Alexium’s award winning products. Our new facility in Greer has allowed faster response times to customer needs and fostered a strong cohesive management approach to rapidly growing sales, and product fulfillment needs. We are confident that Dirk and his team will drive increasing shareholder value, as our Alexium brand awareness continues to increase across different market sectors.”
About Alexium International Group Limited:
Alexium International Group Limited (ASX: AJX, AJX: AX, Nasdaq Designation: AXXIY) holds proprietary patent applications for novel technologies developed to provide flame retardancy for a wide range of materials. These environmentally friendly flame retardants have applications for a number of industries and can be customized. Further, Alexium has developed products for a range of other applications including phase-change materials, water repellents, antimicrobials, and combinations thereof. Alexium also holds patents for a process developed initially by the U.S. Department of Defense, which allows for the surface modification and attachment of nano particles or multiple chemical functional groups to surfaces or substrates to provide functions such as fire retardancy, water proofing, oil proofing, and anti- microbial treatments. Applications under development include but are not limited to textiles, packaging, electronics, and building materials. Alexium’s chemical treatments are currently marketed under the Alexiflam™, Alexiflam FR™, Alexiflam SYN™, Alexiflam NF™, Alexiflam AD™, Alexiflam PB™, and Alexicool™ brand names. For additional information about Alexium, please visit www.alexiuminternational.com.