Quadrise PLC (AIM:QED) this week announced a significant leadership change as part of its plan to sharpen its strategic focus and accelerate commercial delivery.
The company said that CEO Jason Miles will move into a newly focused executive role from 1 June, where he will lead on technology development and the execution of key trials.
It highlighted that Miles has nearly 19 years’ experience within the company and is well-positioned to drive forward bioMSAR and other innovations from the QRF lab.
Proactive: Hello you're watching Proactive. I'm joined by Quadrise PLC chairman Andy Morrison, as well as CEO Jason Miles. Andy, Jason, very good to speak with you today.
Andy, I'm going to start with you. Could you talk us through today's announcement, please?
Andy Morrison: Yeah, thanks, Stephen. It's a reflection, really, of the success and the progress we've made recently with the passing of the milestones and fundraising we did back in January.
So it enables the company to resource for growth in the three main pillars - delivery of the trials, expanding sales, and preparing for the future.
Jason has been a key member of the team for almost 19 years. We all recognize that he has the perfect skills for managing the technology trials and product innovation.
At this pivotal stage, we wanted to focus on that. Jason will continue in an executive director position. To complement that - because it's getting to be a bigger job - we'll be recruiting a new CEO as soon as we can to focus on growing the business, attracting new investors, and expanding market impact.
Proactive: Andy, why are you doing these changes at this time?
Andy Morrison: We all believe the time for Quadrise PLC is now.
We need to get on with it - to deliver our technology and to play our role in the decarbonization of shipping and heavy industry sectors.
The successful delivery of commercial trials with MSC and Cargill, as well as in Panama, Morocco, and the US, are all of critical importance.
They need dedicated leadership that Jason will now be able to provide.
We've recently recruited Linda as Head of Marine and Tony as a non-executive director.
We're building our sector experience in shipping and will complement that with a new CEO to help drive growth and enhance shareholder value.
In the meantime, I’ll be spending more time in the office to provide additional interim leadership support so Jason can focus on technology and trials during the transition.
Proactive: Jason, congratulations on the new position. How will it change your day-to-day role?
Jason Miles: Thanks, Stephen. It's an exciting time. My new role takes effect on the 1st of June. Andy, myself, and the team will manage the transition during the next month or so.
Day to day, I’ll be focusing more on improving our technology in the field - particularly the vessel trial with MSC and Cargill, which is critical for our marine business.
I’ll also lead the commercial launch of our bioMSAR products at scale.
In parallel, I’ll continue to lead the RDI work and tech development programme to extend our IP portfolio - really from the QRF lab, where I am today.
These areas are at the heart of the company’s future, and I enjoy them. It’s a pleasure to move into the new role, and I look forward to welcoming the new CEO.
Proactive: Andy, what are you looking for in the new CEO, and when do you hope to have this person in place?
Andy Morrison: The nomination committee, led by Vicky, is formally kicking off the search process now that the announcement's been made.
Alongside Jason, we're looking for a CEO with skills suited to the commercialization phase - appropriate for the sector and growth stage of the company.
We’re just starting formally today. We've had ideas forming for a while, but the process begins now. It could take a few months.
We may get lucky and find the right person sooner, but we're preparing for a longer timeline.
We'll provide updates as we reach important milestones along the way. We want to move as quickly as possible to accelerate progress.
Proactive: Well, I hope you'll keep us updated on any progress. Thank you very much for taking the time to speak with us today.