ANNOUNCEMENT : Resignation of CEO, Dr Thomas Ting

Melbourne, Australia 17th December 2013

I am writing to advise you that our CEO, Dr Thomas Ting, has tendered his resignation. Thomas is moving on to take up a senior executive position with a global automotive and logistics firm. He will be establishing their company in Australia including an R&D and design centre and will have broader responsibility over business development for new overseas markets.

The Board has agreed that Thomas’ last day will be on 24 December 2013.

After nearly 11 years with VPAC Ltd and VPAC Innovations, Thomas felt it was the right time to leave. He was an early and key contributor to the growth of the company’s consulting business to industry and government leading to the eventual establishment of the current Company, VPAC Innovations. We recognise and thank Thomas for his outstanding leadership and professionalism during his many years of loyal service.

While we are disappointed to be losing Thomas’ services, we understand his decision to take up the new opportunity and wish him every success in that endeavour.

The Board has appointed me as “Executive Chair exercising the delegations of the CEO”,  taking effect the day after Thomas’ last day. This arrangement will continue until a new CEO is appointed. A search has already commenced and we anticipate an early and positive outcome. Meanwhile the Company will continue to offer its customary excellent level of service to its clients.

With Best Wishes for the Festive Season.

Professor Iain Wallace
Chairman, VPAC Innovations Pty Ltd

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