Director Appointment and Resignation
Mr Schultz holds a Bachelor of Engineering in Electronics Engineering, is a serial entrepreneur having successfully founded developed several companies over the last two decades, specialising in the design, manufacture and business development of electronics systems. Mr Schultz has a wealth of experience running design and manufacturing businesses, managing staff and subcontractors and secured significant international business, exporting vehicle immobilisers to Malaysia for aftermarket distribution and direct fit to Honda. These contracts saw a peak of 30 employees locally employed and managed at Technology Park. Mr Schultz's involvement in the group encompasses system specification, design, product design and manufacture, resource management and developing commercialisation opportunities. Mr Schultz was previously an executive director of the Company before relinquishing his role as a director to concentrate on executive management.
Xped also wishes to advise that Mr Athan Lekkas has resigned as a director of the company effective from 30 March 2018. Mr Lekkas was instrumental in transforming the listed entity from a resources company to one with important technologies in the Internet of Things ("IoT") sector. The board thanks Mr Lekkas for his valuable contribution over the past years, and wishes him the best of success in his future endeavours.
Attached (see link below) is the Final Director's Interest Notice for Mr Lekkas and the Initial Directors Interest Notice for Mr Schultz.
The material terms of Mr Schultz's services agreement are as follows.
Remuneration: fixed at $250,000 per annum, with no additional fee for duties as a director;
Contract Term and Termination: the initial two year term of Mr Schultz's contract expired on 23 March 2018 and was extended by 6 months, with termination by either party on one month's notice.
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About XPED Ltd
XPED Ltd (ASX:XPE) is an Australian Internet of Things (“IoT”) technology business. Xped has developed revolutionary and patent-protected technology that allows any consumer, regardless of their technical capability, to connect, monitor and control devices and appliances found in our everyday environment. Xped provides technology solutions for Smart Home, Smart Building, and Healthcare.
At Xped, we’re Making Technology Easy Again(TM)