Control Bionics (ASX:CBL) has announced the appointment of Jeremy Steele as Chief Executive Officer and a member of the board, effective from 19 January 2023.
Mr Steele brings over 25 years of global corporate experience across a variety of industries, and CBL Chairman, Roger Hawke, is confident that Mr Steele's business acumen, experience and enthusiasm will drive new value creation opportunities for the business, shareholders, and employees.
Mr Steele's contract terms include a no fixed term, six months' notice (or payment in lieu) for either party, total fixed remuneration of $325,000 including superannuation, a short-term bonus of up to 50% of TFR, 2 million options with a five-year expiry and 18-month post-employment restraint period, and other terms according to the 2020 Employee Share Option Plan.
Upon the appointment of Mr Steele, Rob Wong will resign as a director.
Control Bionics is a technology company that enables disabled people to use their neuroelectric signals to control communication and movement through smartphones, tablets, computers, and robotics.
Following the announcement, shares of Control Bionics were unchanged at $0.16.