By Chris Nicholls
SYDNEY: Laser TV exponent Arasor has replaced founder and chief executive officer, Dr. Simon Cao, with current consumer optics general manager William Mackenzie, in a bid to “drive profitability and growth”.
The announcement today followed on from an ASX announcement claiming a 295 per cent revenue increase to $117 million, driven mostly by telecoms sales into China and India, and a sharp reduction in losses compared with prior expectations.
Arasor said the company hoped to grow by 90 per cent this year, and reported it increased its profitability for H2 2007 to 28.4 per cent, up from just 2.4 per cent in H1.
Mackenzie’s appointment means Cao will “focus on global strategic initiatives”. Cao will remain executive chairman.
“This is a very exciting time to become the chief executive of Arasor,” said Mackenzie.
“Under Simon’s leadership, Arasor has grown very rapidly and gained market share. With my strong customer and operational background, I look forward to leading a disciplined corporate structure and execution of the strategic plan that will drive profitability and growth,” he said.
Mackenzie was previously chief operating officer at recent Arasor acquisition Novalux, and worked in various electronics manufacturer roles before that.
Arasor also announced today that director Parviz Tayebati will also leave the company to focus on his personal interests.