Fibre optic trenching group Lite Access Technologies Inc (TSX-V:LTE) has appointed Carlo Shimoon and Peter Caplan as directors aimed at creating a stronger and more independent board and accelerating growth plans.
As reported on March 2, Shimoon has been appointed to the position of president and chief executive officer (CEO).
Company co-founder Mike Plotnikoff resigned as CEO immediately but remained in an advisory role to the company and the new incoming chief executive. Michael Priest also stepped down but remains in an advisory role.
"We are pleased to welcome our new chief executive officer, Carlo Shimoon, and seasoned telecommunications entrepreneur, Peter Caplan, to our board of directors," said Greg Smith, the chairman of Lite Access.
"With the appointments of Carlo and Peter, we are in a stronger position to accelerate our growth plans in the United Kingdom and North America through securing relationships with the key telecommunication firms as well as enhancing the services we provide and our brand throughout the territories in which we operate."
Entrepreneur and investor Caplan has been an owner-manager of several IT and telecommunications businesses.
Shimoon joins the board with over 25 years' experience as a chief executive in both private and public companies.
He has an established record of success and industries he has been involved with include fibre-optics, defence, digital video, power conversion, security and biomed.
Lite Access shares nudged 0.89% higher in Toronto at C$1.13.