Qioptiq Announces the Appointment of a New Chief Executive Officer
Effective 1 September 2010, David Marks will become Chief Executive Officer of Qioptiq. Mr. Marks is currently Executive Vice President of Qioptiq's Defense & Aerospace Division.
Luxemburg, July 29, 2010
Qioptiq today announced that effective 1 September 2010, David Marks will become Chief Executive Officer of the company. The current Chief Executive Officer, Fredrik Arp, who joined Qioptiq as Chairman and Chief Executive Officer at the beginning of January 2010, will serve as Executive Chairman of Qioptiq.
Mr. Marks has been active in the optics business for many years. He 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 the leadership of Mr. Marks, the Defense and Aerospace Division experienced compound annual growth rates of more than 10 percent in both sales and profitability between 2005 and 2010. Mr. Marks is an extremely qualified business leader who will devote his considerable energies and talents to ensuring Qioptiq’s continued success and growth over the coming years.
To ensure a smooth transition in the leadership of Qioptiq as well as in the leadership of the Defense and Aerospace Division there will be a transition period from 1 September until the end of December 2010. Following this transition period and from 1 January 2011 onwards, Mr. Marks will be responsible for running Qioptiq while Mr. Arp will continue as Executive Chairman.
At the Defense and Aerospace Division, Mr. Marks will be succeeded by Mr. Steve Shaw. Mr. Shaw is presently the Director of Operations at St. Asaph and has been since 2003. Mr. Shaw joined Qioptiq in 2001 as Manufacturing Director. During his tenure as Director of Operations, Mr. Shaw has implemented many improvements in the manufacturing processes and overseen numerous capital investments that have resulted in a truly world-class facility at St. Asaph. He has also been instrumental in working with Qioptiq’s Singapore facility to effect the transfer technology and manufacturing know-how. Mr. Shaw has a Master of Science degree in advanced manufacturing management from the University of Derby in the United Kingdom.
In commenting on the appointment of Mr. Marks, Mr. Arp, current CEO and Chairman of Qioptiq said: “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. 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.
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Fredrik Arp has held senior executive positions in large global companies for the last 20 years, most recently as CEO and president of the Volvo Car Corporation, and before that as CEO of Trelleborg AB, and PLM AB, now part of Rexam plc. In addition, he has held numerous board positions in companies operating across a variety of sectors such as medical technical products, branded capital goods and technologies and systems suppliers. Mr. Arp holds a Bachelor of Science in Business and Economics, as well as being a Doctor in Economics h.c from the University of Lund in Sweden. Since 2004, Mr. Arp has been involved with Candover in various portfolio company roles, and acted as a Senior Advisor to Candover in the Industrials sector.
David Marks has been managing the Defense and Aerospace Division of Qioptiq since the company’s formation. Previously, Mr. Marks had been Managing Director of Thales Optics Ltd. (UK) since 2003 and he had served as Managing Director of Thales Electro Optics (Singapore) for three years. Before that he had served in various general manager positions for approximately fifteen years after having held positions in contracts and sales and marketing in the optics industry.
Steve Shaw has been the Operations Manager at St. Asaph since 2003. He joined Qioptiq in 2001 as the Manufacturing Director at St. Asaph in 2001. Before joining Qioptiq, Mr. Shaw worked for Rolls Royce Aerospace as operations manager in several different facilities. Mr. Shaw received his Master of Science degree in advanced manufacturing management from the University of Derby in England.
Candover is a long established European buyout house, with a 30-year track record of making successful investments and realisations. The company was established in 1980 as the UK’s first dedicated buyout fund, and today has a portfolio of companies across Europe, with a particular emphasis on the UK, Benelux, France, Germany, Italy, Spain and Scandinavia.