Global semiconductor technology and equipment firm, Revasum (ASX:RVS), has appointed experienced US-based finance and business executive Mr Bruce G.Ray to the role of Chief Financial Officer, effective 12 September 2022 (US local time).
The appointment further strengthens the technical expertise of Revasum’s executive team, complementing the skills of new President and CEO Scott Jewler.
The company notes with respect to an update to its announcement on 26 July 2022, that Mr Scott Jewler is yet to formally be appointed to the Board of Directors, having commenced as the Group CEO and President on 2 August 2022.
About Mr Ray
Mr Ray has more than 25 years’ strategic planning, financial analysis, and operations management experience within high-tech, manufacturing, and digital media businesses. He has held CFO and Director of Finance roles at engineering consultancy firm Cannon Corporation, NASDAQ-listed advanced positioning solutions company Trimble Navigation (TRMB), digital publisher Sanluisobispo.com, and internet and broadband provider EXCITE@HOME. Earlier in his career, Mr Ray held senior finance positions at Intel Corporation, Nissan Motor Corporation and Mars Incorporated.
Commenting on the appointment, CEO Scott Jewler said,
“Bruce is a high calibre CFO with extensive financial and sales experience within related tech and manufacturing industries. Throughout his career, Bruce has implemented process improvements and developed new revenue streams – an important capability as we continue to focus on revenue stream diversification across consumables, spare parts, and services.
“As a capital equipment manufacturer, an experienced in-house CFO is key to managing the complexities of our equipment revenue agreements with customers. These include staggered payment terms, varied lead times, some of which can extend over 18 months, and a single unit of equipment representing millions. Bruce’s strategic planning and forecasting expertise will be invaluable in effectively managing these complexities and operating cashflow to support revenue targets.”
Commenting on his appointment, Mr Ray said,
“I’m looking forward to working with Scott and the entire Revasum team to scale revenues, as the company continues to benefit from increased demand for silicon carbide wafer polishing and grinding technology for electric vehicles, 5G and solar.”