Aurora Labs has announced significant changes at board and executive levels as it enters the final stages of commercialising its metal 3D printing technology.
As a result, current CEO, and founder of the company, David Bulge is to take up the new role of Chief Technology Officer, with COO Peter Snowsill acting as interim CEO until a permanent appointment is made. Aurora says it is seeking someone with ‘considerable expertise in proven sales’ to take the helm.
Budge, along with Nathan Henry, has also relinquished his role at board level to concentrate on his new duties, while Paul Kristensen has stepped down as chairman. Grant Mooney, Non-Executive Chairman, and Ashely Zimpel, Non-Executive Director, both join the board.
After the launch of the RMP1 system ahead of last year’s RAPID + TCT, the company is now nearing a position where it is ready to make the technology commercially available. Currently in a beta phase, when the company reaches that stage, it wants someone experienced in late stage commercialisation and sales to lead the company.
As the search for that person gets underway, Aurora Labs has also sought to bring in experience at board level. Mooney brings experience in capital raisings, mergers, acquisitions and corporate governance, while Zimpel boasts a strong record of capital raising in equity, debt and structured financial products.
“I am very supportive of these changes and look forward to continuing to contribute to the technical leaps and bounds that will keep Aurora in the lead,” said Budge. “I believe that as a company, we are on the cusp of a very significant, transformative opportunity in additive manufacturing – a larger opportunity that one person can capture by themselves. On behalf of the company, we also thank Paul for his service to Aurora which has been sincerely appreciated during the time he has served us.”
“Aurora has received an increasing level of interest from several major international businesses for its 3D printing technology, so it’s imperative we are able to capitalise on this by ensuring we have the optimal skillset at a Board and Executive level for the next exciting phase of the company’s evolution,” commented outgoing chairman Kristensen. “We have appointed two highly skilled Board members with Grant and Ashley, both of whom have significant expertise in the capital markets, and sourcing the investor support that growth companies require to realise their ambitions.
“With the implementation of a truly independent, non-executive board we are able to have our executives focused directly on the needs of our key stakeholders, especially employees, through the current dynamics, with the board focused on the strategic direction of Aurora.”