Since June IGS has remained true to CEO David Farquhar’s commitment to bring in a world class management team and board. With a new Managing Director of our Agri business – Ole Mygind – and a Managing Director of the Commercial Lighting business – Mike Letchford – we have global sales experience to drive revenue and growth opportunities in our target markets. Working alongside them are Stephane Groud as Chief Product Officer and Geoff Tucker as Marketing Director. They will augment the existing team of Dave Scott, Chief Technical Officer; John Chapman, Chief Strategy Officer and Donald Clark, Financial Controller. This team has been brought together for zero recruitment fees.
The IGS Board has also evolved considerably since June with the goal to provide optimum strategic direction and good governance keeping the interests of all our shareholders at the forefront of our decision-making. Remaining on board as an independent director to provide continuity, John Siebert, a serial publishing entrepreneur will be an independent director but will step down as Chair. David Farquhar joins for the first time.
The new Chair is John Watson, whose experience in venture capital private equity and commercial property development is extensive, and most recently with Global Infrastructure Partners. Our other independent director is Brendan Richardson another former VC, CEO of Astraea, based in Charlottesville, Virginia.
Our investors have also appointed their respective founders as investor-directors. Sanjeev Krishnan is Managing Partner of S2G Ventures (Seed2Growth) in Chicago and brings an extensive Agritech and Food production network across North America and beyond. Brisbane-based Michael Dean has grown AgFunder in Silicon Valley from news feed through crowd-funding platform to also having raised a second fund. Both their networks are global, and we are already seeing benefits from their connections and links especially across the Asia Pacific hemisphere. Together this board brings access to a remarkable global network of contacts in Agritech, Food Production and the Commercial Lighting market covering EMEA, the Americas and AsiaPac. We are very excited about the future working with them.
We have been developing our supply chain and product manufacturing capabilities, greatly speeding up delivery and assembly times; reducing costs to give us far better gross margins and adding functional capabilities to all four product lines.