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Advanced composites manufacturer Quickstep Holdings has announced three current directors will be leaving the company.
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Non-executive directors Nigel Ampherlaw, Peter Cook and Air Marshal (Ret'd) Errol McCormack AO are retiring, leaving the composition of the Quickstep board with:
- Tony Quick, non-executive director and chairman
- Mark Burgess, CEO and managing director
- James Douglas, non-executive director
- Bruce Griffiths OAM, non-executive director
Ampherlaw, a non-executive director since 2013 is resigning from the board due to the time commitments in his new role as chairman of Credit Union Australia, Cook leaves having been a a non-executive director since 2005, and McCormack departs after serving as a non-executive director since 2010.
Tony Quick, the chairman of Quickstep, said, "I wish to sincerely thank Errol, Peter and Nigel for the support and hard work they have provided during their tenure on the Quickstep board. They have seen the company through a period of considerable change and growth and can all be very proud of their significant contributions."
Quickstep recently completed a strategy review and launched OneQuickstep, a change program it expects to simplify and streamline business.
In August, Quickstep announced a $6.7 million net loss for FY2017, despite a 4 per cent increase in sales revenue and strong growth in JSF volumes.
Quickstep flagged lower volumes on wing flap assemblies for C-130J as offsetting its strong growth in Joint Strike Fighter volumes, which were 1,230 parts, an increase of 108 per cent on the 590 parts delivered in FY16.
C-130J shipset deliveries of 27.25 (26 shipsets and five spares) returned to normal program volumes after 35 ship-sets were delivered in FY16, as scheduled by Lockheed Martin.
Defence Connect also confirmed in August that Quickstep will be ceasing involvement with the Thales Hawkei program, for which it was responsible for providing the vehicle's bonnet, side skirts and mud guards, citing "profitability and growth" reasons.
