Qioptiq appoints new chief executive officer
Photonic product and technology supplier Qioptiq has announced that effective Sept. 1, 2010, David Marks will become chief executive officer of the company.
Photonic product and technology supplier Qioptiq (Luxembourg) has announced that effective Sept. 1, 2010, David Marks will become chief executive officer of the company. The current CEO, Fredrik Arp, who joined Qioptiq as chairman and CEO at the beginning of January 2010, will serve as executive chairman of Qioptiq.
Marks has been the head of the Defense and Aerospace Division since its creation in 2005 when Qioptiq was formed, and before that was managing director of the St. Asaph facility since 2003. Previously, he had served as managing director of the Singapore facility for three years. Under Marks' leadership, the Defense and Aerospace Division experienced compound annual growth rates greater than 10% in both sales and profitability between 2005 and 2010.
There will be a transition period from Sept. 1 until the end of December 2010. Following this transition period and from Jan. 1, 2011 onward, Marks will be responsible for running Qioptiq whileArp will continue as executive chairman.
At the Defense and Aerospace Division,Marks will be succeeded by Steve Shaw, who is presently the director of operations at St. Asaph and has been since 2003. Shaw joined Qioptiq in 2001 as manufacturing director. He has worked with Qioptiq's Singapore facility to effect the transfer of technology and manufacturing expertise.
"When I joined Qioptiq at the beginning of 2010 my understanding with the principal shareholders, Candover, was that my tenure as CEO would be for an interim period only," comments Arp. "This expectation has been easy to meet given the presence of David Marks in the company. He has been extremely effective in leading the Defense and Aerospace Division over the last several years and I am certain he will be effective in leading Qioptiq. For my part I have greatly enjoyed working with the management and employees over the last several months and it is my intention to be a particularly active and involved Executive Chairman for the foreseeable future."
-- Posted by Vision Systems Design