Extension of Executive Directors' Contracts and Appointment of Group COO and CTO
Confirmation of Executive Arrangements
Brisbane, Feb 12, 2018 AEST (ABN Newswire) - NOVONIX Limited (
ASX:NVX) ("NOVONIX" or the "Company") is pleased to announce that the employment contracts for Managing Director, Phil St Baker, and Executive Director, Greg Baynton, have been extended to 30 June 2019. Mr St Baker and Mr Baynton are entitled to receive performance-based incentives subject to achievement of performance hurdles. Those performance-based incentives, summarised in the annexure to this announcement, are subject to shareholder approval. Otherwise, the material terms of their employment contracts (as set out in the 2017 Annual Report) are unchanged.
The Company is also delighted to announce that Dr Chris Burns and Dr David Stevens, the founders of the battery testing services business acquired by the Company in June 2017, will transition from their current roles as Chief Executive Officer and Chief Technology Officer within that business to Chief Operating Officer and Chief Technology Officer, respectively, of the NOVONIX Group. Both Chris and David have significant capacity to drive value creation for the Company.
NOVONIX Chairman, Tony Bellas said "Extending employment contracts with our Executive Directors Philip St Baker and Greg Baynton and formally appointing Dr Chris Burns and Dr David Stevens to the roles of Group COO and Group CTO respectively, ensures the company's executive leadership is well positioned for the future."
About NOVONIX Limited
NOVONIX Limited (ASX:NVX) (FRA:GC3) (OTCMKTS:NVNXF) is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 14 countries. NOVONIX's mission is to support the global deployment of lithium-ion battery technologies for a cleaner energy future.
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