Monday, 13 November 2017 01:12

World Reach appoints Comms legend David Stewart as non-exec director

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Former Netcomm chief executive, ACOMMS Communications Ambassador and continuing communications pioneer and tech entrepreneur, David Stewart, is now a non-executive director of World Reach.

World Reach bills itself as "one of Australia's leading satellite telecommunications companies that designs, develops, manufactures and distributes a range of satellite phone equipment and related services".

The company says it "exists to assist people in times of disaster as well as those in remote, wilderness and maritime locations where there is no reliable access to terrestrial communications".

It announced the appointment of Stewart as a non-executive director of as of 9 November.

The company and Stewart "successfully completed a placement of 9,700,000 shares on 12 September 2017, which injected A$1,940,000 into the Company to assist with the funding of existing and prospective product developments".

"The placement conferred the right to appoint a director of World Reach Limited and David confirmed his desire to join the company’s board.

"The placement and David’s decision to join the board reflects the investor’s positive view of the company’s growth prospects in the communications sector as it continues to embark on the release of new and innovative communication products."

Stewart's work in the communications field is exceedingly impressive. Not only did he found Banksia Technology in 1988, and successfully managed the company as a fast growing and highly profitable business, but he instigated the takeovers of a number of competitors, including NetComm Limited, from 1996.

He then assumed the role of managing director and CEO of NetComm and oversaw the company's growth into a conglomerate, delivering annual revenues of over $85M (FY2016), until his retirement in December 2016.

During this time, Stewart was instrumental in expanding the business, reputation and revenues of that company over two decades, as evidenced by Netcomm being selected as the key equipment supplier to the national broadband network, in addition to impressive global comms deals.

In June 2016, Stewart was recognised for his significant contribution to the Australian communications industry with the presentation of the Communications Ambassador award, the highest honour presented by ACOMMS Communications Alliance and CommsDay each year.

World Reach chairman Simon Wallace said: “I’m delighted David has agreed to join us as not only a major shareholder in World Reach Limited, but also as a non-executive director and I expect he will make a substantial contribution to the direction and performance of the group in the future.

"All World Reach’s directors hold shares in the company and we are professionally determined and personally motivated to ensure the company achieves all that it can. David’s skillset, experience and enthusiasm augurs well for us as a board and, by extension, all stakeholders in our company.

"The company and the directors welcome David to the board and we look forward to utilising David’s technical and commercial expertise as part of a successful future for the company.”

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Alex Zaharov-Reutt

One of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.

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