Neptune Marine Services chief financial officier Richard Wolanski has taken the top job at the underwater welding specialist as the company continues to commercialise its technology globally.
The Perth - based company said founding executive director Andrew Harrison would step down from an executive role and focus on 'corporate initiative'.
Neptune recently locked in an exclusive 3 year arrangement for the use of its welding technology in 11 countries thoughout Asia.
"The potential to create multiple revenue streams out of Asia is expected to result in rapid growth in revenues as a presence is established in each new country, while simultaneously adding to the value of the technology in significant markets in the northern hemisphere", Mr Wolanski said.
Neptune has had a roller-coaster six months on the market with its shares bouncing from 50 cents in January to a peak of $1.50 in March before the markets' April downturn knocked the stok back to 0.69 cents. It then climbed back up to $1.26 but has drifted and finished at 70.5 cents yesterday.
A chartered accountant, Mr Wolanski has worked throughout Australia, Singapore and the UK, with special expertise in corporate capital raisings, public floats, start-ups and company restructures.
NMS Price at posting:
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