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20th
May 2008
ORBITAL
APPOINTS TERRY STINSON AS CHIEF EXECUTIVE OFFICER AND MANAGING DIRECTOR
PERTH,
AUSTRALIA: International
clean energy technology group Orbital Corporation Limited (ASX:
OEC - "Orbital") is pleased to announce the appointment
of Mr Terry Stinson as its new Chief Executive Officer and Managing
Director effective from 21 June 2008, at which time Dr Rodney Houston
will step down, as previously announced.
Mr Stinson brings to Orbital
over 30 years experience in manufacturing, engine development and
fuel systems design and commercialisation, as well as an outstanding
general management track record.
For the past seven years Mr Stinson
has been a senior executive with Siemens VDO, Europe's largest engineering
conglomerate (recently purchased by Continental Corporation), with
direct responsibility for sales in excess of US$300 million per
annum in their Gasoline Systems, Fuel Systems and Fuel Components
operations in the United States, Germany, Italy, China and support
operations in every country where automobiles are manufactured.
Terry has also served as a representative Director for Siemens VDO
on the Synerject JV Board.
Prior
to that, he held the position of VP Manufacturing for Outboard Marine
Corporation, a privately held $US1 billion multinational outboard
marine propulsion and boat company.
In 1995, Mr Stinson
was appointed as President and CEO of METEOR, a JV company between
Brunswick Corporation and Orbital. He moved to Perth from the USA
and remained in that role for nearly five years, during which period
METEOR became the Synerject LLC joint venture business.
Commenting on Mr
Stinson's appointment, Mr Peter Day, Orbital's Chairman said: "Terry
has a long and distinguished history in engineering, automotive
and manufacturing and, at the age of 30, won National recognition
in the United States as "Young Engineer of the Year" from
the Society of Manufacturing Engineers" while he was at Mercury
Marine.
"Terry is a
seasoned world class executive who meets all the key criteria the
Board established for CEO selection. He has experience across all
of Orbital's major business segments and activities and understands
the global engine and fuel systems industry intimately. He has had
management experience at the most senior levels in the USA, Europe
and Australia, plus exposure to the developing economies of Asia
and India.
"We are delighted
to have been able to invite a senior executive of Terry's calibre,
professionalism and enthusiasm to join Orbital and take it forward
to the next stage of its development," Mr Day said.
Orbital's CEO elect,
Mr Terry Stinson, said: "I am extremely enthusiastic about
the opportunity at Orbital. I know many of the team at Orbital and
look forward to joining the team and building on the already strong
foundations developed by Rod Houston. I want to share my experience
and ideas about how we can take advantage of the many organic and
external opportunities emerging in the field of clean technologies.
"I am also excited
about the opportunity of working with the Board, including its new
members, and leveraging their knowledge and support for the benefit
and betterment of shareholders," he added.
Terry, a US national
currently residing in Williamsburg, Virginia, USA, will be relocating
to Perth with his wife and family over the coming months.
Background Information
- Mr Terry Stinson
Career
2007 to 2008
Vice President and General Manager
Siemens VDO, Powertrain, Gasoline Systems, Fuel Systems, Auburn
Hills MI, USA and Juarez Mexico
Member of Board of Directors
Synerject LLC
2002 to 2007
Vice President and General Manager
Siemens VDO, Powertrain, Gasoline Systems, Fuel Componnents
Member of Board of Directors
Synerject LLC
2000 - 2002
President & CEO
Synerject LLC
1999 - 2001
Vice President Manufacturing
Outboard Marine Corporation
1995 - 1999
President & CEO
Meteor
1991 - 1995
Director Advanced Product and Process Development
Mercury Marine
1985 - 1990
Project Engineer Corvette ZR-1 Engine
Mercury Marine
1983 - 1985
Manufacturing Project Engineer
Mercury Marine
1983 - 1981
Manufacturing Engineer
Mercury Marine
1978 - 1981
Machine Shop General Foreman
Mercury Marine
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