Orbital Appoints Terry Stinson as Chief Executive Officer and Managing Director
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PERTH, Australia, May 19 /PRNewswire-FirstCall/ -- International clean energy technology group Orbital Corporation Limited (ASX: OEC - "Orbital") is pleased to announce the appointment of Mr. Terry Stinson as its new Chief Executive Officer and Managing Director effective from 21 June 2008, at which time Dr. Rodney Houston will step down, as previously announced. Mr. Stinson brings to Orbital over 30 years experience in manufacturing, engine development and fuel systems design and commercialization, as well as an outstanding general management track record. For the past seven years Mr. Stinson has been a senior executive with Siemens VDO, Europe's largest engineering conglomerate (recently purchased by Continental Corporation), with direct responsibility for sales in excess of US$300 million per annum in their Gasoline Systems, Fuel Systems and Fuel Components operations in the United States, Germany, Italy, China and support operations in every country where automobiles are manufactured. Terry has also served as a representative Director for Siemens VDO on the Synerject JV Board. Prior to that, he held the position of VP Manufacturing for Outboard Marine Corporation, a privately held $US1 billion multinational outboard marine propulsion and boat company. In 1995, Mr. Stinson was appointed as President and CEO of METEOR, a JV company between Brunswick Corporation and Orbital. He moved to Perth from the USA and remained in that role for nearly five years, during which period METEOR became the Synerject LLC joint venture business. Commenting on Mr. Stinson's appointment, Mr. Peter Day, Orbital's Chairman said: "Terry has a long and distinguished history in engineering, automotive and manufacturing and, at the age of 30, won National recognition in the United States as "Young Engineer of the Year" from the Society of Manufacturing Engineers" while he was at Mercury Marine. "Terry is a seasoned world class executive who meets all the key criteria the Board established for CEO selection. He has experience across all of Orbital's major business segments and activities and understands the global engine and fuel systems industry intimately. He has had management experience at the most senior levels in the USA, Europe and Australia, plus exposure to the developing economies of Asia and India. "We are delighted to have been able to invite a senior executive of Terry's caliber, professionalism and enthusiasm to join Orbital and take it forward to the next stage of its development," Mr. Day said. Orbital's CEO elect, Mr. Terry Stinson, said: "I am extremely enthusiastic about the opportunity at Orbital. I know many of the team at Orbital and look forward to joining the team and building on the already strong foundations developed by Rod Houston. I want to share my experience and ideas about how we can take advantage of the many organic and external opportunities emerging in the field of clean technologies. "I am also excited about the opportunity of working with the Board, including its new members, and leveraging their knowledge and support for the benefit and betterment of shareholders," he added. Terry, a U.S. national currently residing in Williamsburg, Virginia, USA, will be relocating to Perth with his wife and family over the coming months. Background Information - Mr. Terry Stinson Career 2007 to 2008 Vice President and General Manager Siemens VDO, Powertrain, Gasoline Systems, Fuel Systems, Auburn Hills MI, USA and Juarez Mexico Member of Board of Directors Synerject LLC 2002 to 2007 Vice President and General Manager Siemens VDO, Powertrain, Gasoline Systems, Fuel Components Member of Board of Directors Synerject LLC 2000 - 2002 President & CEO Synerject LLC 1999 - 2001 Vice President Manufacturing Outboard Marine Corporation 1995 - 1999 President & CEO Meteor 1991 - 1995 Director Advanced Product and Process Development Mercury Marine 1985 - 1990 Project Engineer Corvette ZR-1 Engine Mercury Marine 1983 - 1985 Manufacturing Project Engineer Mercury Marine 1983 - 1981 Manufacturing Engineer Mercury Marine 1978 - 1981 Machine Shop General Foreman Mercury Marine About Orbital Orbital is an international developer of innovative technical solutions for a cleaner world. Orbital provides innovation, design, product development and operational improvement services to the world's producers, suppliers, regulators and end users of engines and engine management systems for application in motorcycles, marine and recreational vehicles, automobiles and trucks. Orbital's principal operations in Perth, Western Australia, provide a world class facility with capabilities in design, manufacturing, development and testing of engines and engine management systems. Headquartered in Perth, Western Australia, Orbital stock is traded on the Australian Stock Exchange (OEC) and the OTC Bulletin Board (OBTLY). SOURCE Orbital Corporation Limited Australia: W Peter Day, Chairman, +61 (0)407 849 965, or Keith Halliwell, Company Secretary, +61 (0)8 9441 2114, Info@orbitalcorp.com.au, both of Orbital Corporation Limited
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