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XTEK Limited ( (AU:HCL) ) has shared an announcement.
HighCom Limited has appointed veteran defence and engineering executive Geoffrey Knox as Executive Chairman and Chief Executive Officer, following the abrupt resignation of Group CEO Todd Ashurst. Knox, who has more than four decades of leadership experience at major industrial and defence-focused groups including Eptec, Downer EDI, GE Mining, GE Transportation, BHP Engineering and Hatch, is tasked with sharpening operational performance and driving growth across the company’s armour and technology divisions in Australia and the US. The board signalled a strategic shift by combining the chair and CEO roles under Knox, while former non-executive chairman Benjamin Harrison steps back to a non-executive director role after 18 months at the helm. Knox said his immediate priority is to get sales in the Armor business back on track and to support expanding opportunities for the Technology division, positioning HighCom to scale its presence within highly regulated defence markets; his remuneration has been set at an annual fee of A$540,000 under a contract with six months’ notice on either side.
The most recent analyst rating on (AU:HCL) stock is a Buy with a A$0.40 price target. To see the full list of analyst forecasts on XTEK Limited stock, see the AU:HCL Stock Forecast page.
More about XTEK Limited
HighCom Limited (ASX: HCL) operates through two main businesses: HighCom Armor, which designs, manufactures and supplies advanced personal ballistic protection for global military, law enforcement and first responder customers, and HighCom Technology, which provides Australian defence and security agencies with small uncrewed aerial systems, sensor payloads, and associated program management, systems integration, maintenance, composite repairs and logistics support services.
Average Trading Volume: 186,485
Technical Sentiment Signal: Buy
Current Market Cap: A$31.83M
Learn more about HCL stock on TipRanks’ Stock Analysis page.