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- Technology company Sensera (SE1) has made some changes to consolidate management responsibilities within its leadership
- The company’s Managing Director, Ralph Schmitt, has transitioned to an Executive Director role on the Board
- The General Manager of Sensera’s MicroDevices business, Tim Stucchi, has been promoted to Chief Operating Officer
- The company is making these changes in order to streamline its leadership group and reduce costs
- Sensera is down 8.24 per cent and trading at 7.8 cents per share
Technology company Sensera (SE1) has made some changes to consolidate management responsibilities within its leadership.
First and foremost, the company’s Managing Director, Ralph Schmitt, has transitioned to an Executive Director role on the Board.
In addition, the General Manager of Sensera’s MicroDevices business, Tim Stucchi, has been promoted to the role of Chief Operating Officer. Tim has been responsible for the day-to-day business activities of the company’s MicroDevices division since Sensera’s IPO in December 2016.
In October 2020, Sensera sold its internet-of-things subsidiary, Nanotron Technology, to Inpixon for roughly A$12 million. Since then, the company has turned its focus to its primary business, which includes MicroDevices sensor development and production.
Sensera’s MicroDevices sensor uses microelectromechanical systems (MEMS) technology. For over two decades, Tim has run MEMS-based manufacturing businesses, making him well-suited to overseeing Sensera’s transition to a high-volume manufacturing company.
In light of Tim’s changing position, his remuneration will change significantly. While he previously enjoyed an employee-based annualised base salary of US$300,000 (roughly A$379,935), plus a bonus and other employee benefits, he will now transition to a fixed fee of US$10,000 (approximately A$12,660) per month.
Despite these alterations to Sensera’s leadership structure, Ralph will continue to operate in an active leadership role and partner with Tim in his expanded range of responsibilities. The company is making these changes in order to streamline its leadership group and reduce related costs.
Sensera is down 8.24 per cent, trading at 7.8 cents per share at 11:29 am AEDT.
