Aerometrex Limited (ASX: AMX) is pleased to announce that highly regarded infrastructure and energy industry executive, Steven Masters, has been appointed Managing Director and Chief Executive Officer.
Mr Masters is currently Chief Executive of ElectraNet, one of South Australia’s largest companies, and intends to commence his duties with Aerometrex in early 2022 following completion of his current employment.
Mark Lindh, Aerometrex Chairman, said: “Following an extensive global search, the Board of Aerometrex is delighted to have secured Steve to lead the Company through its next growth phase. He has over 25 years of significant and wide-ranging experience in the infrastructure, energy and resources industries.
“Steve has been involved in the origination and execution of significant business growth initiatives during his career. At ElectraNet, he is widely recognised for his achievements in re-shaping its corporate strategy, and for developing and capturing a strong project pipeline of new material growth opportunities in excess of $1.25 billion that have met customers’ needs and created significant shareholder value. He has successfully led a high-profile business with an asset base in excess of $3.5 billion, overseen the development and implementation of industry first innovations, and maintains excellent relationships across a diverse range of stakeholder groups, from customers through to regulators.
“Steve will also bring impressive people leadership skills and a strong strategic, commercial and business development skillset. This includes corporate strategy, M&A activity, corporate development both domestically and globally, and building successful relationships with stakeholder groups. Steve’s skillsets and relationships will be highly complementary to the outstanding technical capability that exists within Aerometrex.”
Mr. Masters has extensive senior executive experience at major Australian companies in the energy and infrastructure sectors. This includes being Chief Commercial Officer and Executive Vice President of Growth at Beach Energy from 2010 to 2014, prior to his appointment as Chief Executive of ElectraNet in 2014.
At Beach Energy, Mr. Masters led over $1 billion of material asset acquisition and divestment activities, two successful on-market takeovers of ASX-listed entities (totalling around $170 million) and negotiated various significant value enhancing commercial agreements with domestic and international companies, and governments.
Since listing on ASX two years ago, Aerometrex has made very good progress in building multiple revenue streams across its core business. Mr. Masters will continue to focus on extending the
Company’s technical leadership, demonstrated by its world-leading 3D modelling products, while expanding the commercial applications and global customer base.
“Steve’s track record of delivering wide ranging performance outcomes, strong commercial acumen and driving business growth, make him ideally suited to lead the business and further develop its future strategy. He has a strong interest in data utilisation and enhancement, and is excited by Aerometrex’s future growth opportunities”, said Mr. Lindh.
Commenting on his appointment, Mr. Masters said: “I am very proud to have led ElectraNet for seven years, with the company successfully navigating many challenges and delivering excellent outcomes for customers and shareholders alike. I am thrilled by the opportunity to lead Aerometrex, and look forward to working with a world-class team, developing the future strategy and building the business”.
As previously announced, Mark Deuter, Aerometrex’s current Managing Director, indicated his intention to retire earlier in 2021.
“I am very pleased to be passing the baton to Steve. We have found an extraordinary person to lead the company forward through its next phase of development and growth, and I wish him every success in the leadership role. More than ever, I can see the global potential of Aerometrex and I am confident that it will be realised under Steve’s leadership.
“I am retiring with the company in a strong financial position, and a great team in place that is pursuing and delivering on an exciting growth agenda. I look forward to Aerometrex’s continued expansion and success both in Australia and on the global stage,” said Mr Deuter.
Mr. Deuter will assist as necessary with facilitating a smooth transition of leadership to Mr. Masters. During the period of transition, and before Mr Masters’ commencement, current Chief Operating Officer, David Byrne will assume the role of Acting Chief Executive Officer.
This release is approved by the Board of Directors of Aerometrex Limited.