Non-Executive Director - Trackwise Plc
Date Posted: 20/02/2020
Closing Date: 16/03/2020
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For further information on the company please see:
Website | Annual Report | Board of Directors
A Non-Executive Director (Non Exec) is required for Trackwise Designs Plc an exciting, AIM listed manufacturing company of specialist products using innovative, printed circuit technology, for a wide range of potential applications including telecommunications, aviation, automotive and defence. Products are exported around the world, including the USA, Australia, Europe and China. UK headquarters are in Tewkesbury, Gloucestershire.
In 1996 Trackwise was asked to produce its first antenna PCB, a nine-foot-long unit for an early GSM900 mobile phone base station antenna. This large format PCB capability, while not unique, was and is exceptional and remains a key differentiator. Since 2010, Trackwise has been developing its proprietary and innovative manufacturing process that enables the globally unique capability of producing flexible multi-layer printed circuit boards of unlimited length. Marketed as Improved Harness Technology™ (IHT) these boards offer a lightweight replacement for conventional wire harnesses with multiple applications across the aerospace, automotive, oil and gas industries.
The Board meets 10 times pa in Gloucestershire plus Sub-Committees and 2 strategy days; the time requirement will be 2-3 days per month covering formal and informal time plus initially more during induction. The remuneration is iro £35k pa.
Business Concept & Strategy
2018 was a landmark year for the Trackwise; following their IPO, they moved to a new manufacturing facility, achieved a major shift in impetus in the development of a unique, patented, wire harness replacement technology – Improved Harness Technology™ (“IHT”) and successfully floated the business on the London AIM market.
2018 revenues increased by 23% compared to the previous year with increasing adjusted operating profit to £325K (2017: £67K).
The legacy RF business will continue to underpin the business, but as at IPO the growth opportunity is “IHT” which is a unique, proprietary, patented technology. It is not a new technology, but a new method of manufacturing a proven technology that opens applicability to a vast new range of applications.
Unlimited length multi-layer flexible PCBs are unique to Trackwise and represent a disruptive technological process that releases proven advantages over traditional wire harnesses to a significant total addressable market, previously excluded by historic supply chain size limits.
The opportunities for IHT are extremely diverse; wherever wire is used, IHT can potentially offer a benefit, which are:
- Weight saving – up to 75 per cent
- Space Saving
- Improved precision
- Improved reliability
- Reduced installation time
- Ability to be bonded onto/into supporting structure
- Ability to integrate electronic components, changing an entirely passive interconnect into a ‘smart harness’
Non-Exec Director Requirements/Criteria
- Board level, Executive or Non-Exec, within the high-tech engineering/manufacturing sector with experience of growing a business from £20m to £100m+.
- Strong strategic and commercial expertise.
- Must be entrepreneurial and understand the challenges of an early stage business.
- Must have business leadership, M&A, organic growth, client relationships, contracts and negotiations experience.
- Strong international experience.
- Ideally experience of Chairing the Audit Sub-Committee - qualified accountant not essential.
- You should have enough time availability to make an effective contribution.
- Applicants must be based in the UK, within 2 hour travel time to the Head Office in Tewkesbury, Gloucestershire.
Time commitment is 2-3 days per month for Board and Audit Committee meetings plus 2 strategy days, initially more during induction. Board meetings are held ten times pa in Tewkesbury and business update calls. Remuneration will be iro £35k per annum.
Closing Date: Monday, 16th March 2020