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XTEK appoints new non-executive director in former Minister for Defence Christopher Pyne

Pyne’s experience spans more than 25 years in Australian politics, including Cabinet Minister in the Defence portfolio where he implemented Australia’s Defence Export Strategy, Defence Industrial Capability Plan, and the Naval Shipbuilding Plan.

XTEK Ltd - Xtek appoints new non-executive director in Former Defence Minister Christopher Pyne
Pyne will commence his role effective immediately

XTEK Ltd (ASX:XTE) has strengthened its board with the appointment of former Federal Government Minister Christopher Pyne as a non-executive director of the company -  effective today.

Pyne brings a wealth of commercial, political and global defence experience to XTEK, having served as the 54th Australian Defence Minister.

He was responsible for delivering the $200 billion build-up of Australia’s military capability and assisted in developing the 2016 Defence White Paper and implementing the Integrated Investment Program.

Currently, Pyne is chairman of Pyne and Partners and principal of GC Advisory, consulting to business in the domain of government and political engagement.

“Supports commercialisation strategy”

The appointment complements XTEK’s strategic focus on commercialising its proprietary products in global markets.

Chairman Uwe Boettcher said: “We are delighted to welcome Christopher to the XTEK Board.

“His extensive experience and expertise, and his vast knowledge of the Australian Defence Industry, will be of immense value to the company as it continues to execute its strategy to commercialise its proprietary technologies globally, as well as further strengthen its domestic capabilities.

“We look forward to working with Christopher going forward and his contribution to XTEK.”

“On the verge of significant growth”

Pyne said: “XTEK is on the verge of significant growth as it continues to develop and commercialise its IP globally, building on its domestic distribution networks and capabilities.

“I look forward to contributing to this next stage of growth and being part of this market-leading company.”

Quick facts: XTEK Ltd

Price: 0.595 AUD

ASX:XTE
Market: ASX
Market Cap: $42.15 m
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