Appointment of New Directors to the Rakon Board
10 March 2017
The Board of Rakon Limited (NZX:RAK) is pleased to announce the appointment of three new Directors to the Board.
Lorraine Witten – Appointed as Independent Director
Lorraine is currently the Chair of Kordia Group Limited, Star Now Limited, vWork Limited, Soltius Limited and also a Director of WREDA (Wellington Regional Economic Development Agency). Lorraine is also a founding shareholder and current Chair of Simply Security Limited, Member of the Department of Corrections Audit & Risk Committee and previously held numerous other Board and governance roles.
Keith Oliver – Appointed as Independent Director
Keith is currently a Director of ALTO Capital Limited, Chair of Blackhawk Tracking Systems Limited and Health Vision (NZ) Limited. Keith is also a Director of Vigil Monitoring Limited and previously held numerous other Board and governance roles.
Yin Tang Tseng – Appointed as Director
Yin Tang (Tony) is the current Chairman of Siward Crystal Technology Co. Limited (Siward). Taiwan based Siward, a world leader of crystal and oscillator solutions, hold a 16.6% share in Rakon Limited following their investment in February 2017.
Rakon Chair Bryan Mogridge said, “following an extensive search that presented a number of high calibre applicants, the Rakon Board is very pleased to be able to appoint and welcome Lorraine, Keith and Tony. Individually each brings considerable business and governance experience that enhances the Rakon Board”.
All three Directors have been appointed under a casual vacancy and will put themselves forward for election by shareholders’ at the next annual meeting.
Chair of Rakon Limited
Simon Bosley (CFO)
09 571 9206
Rakon is a global high technology company and a world leader in its field. The company designs and manufactures advanced frequency control and timing solutions for telecommunications, global positioning and space and defence applications. Rakon products are found at the forefront of communications where speed and/or reliability are paramount. The company’s products provide extremely accurate clocking signals, which are then used to generate precise electrical, radio or optical signals in networks and systems around the globe. Rakon has four manufacturing plants including two joint venture plants and has five research and development centres. Customer support centres are located in ten offices worldwide.
Rakon is proud of its New Zealand heritage; it was founded in Auckland in 1967. It is a public company listed on the New Zealand stock exchange, NZSX, ticker code RAK.