Titomic Elevates Jim Simpson to Managing Director Amid US Growth Drive
Titomic Limited has appointed Jim Simpson as Managing Director, consolidating leadership as the company accelerates its expansion in the US additive manufacturing market.
- Jim Simpson appointed Managing Director effective 10 January 2025
- Simpson brings over 40 years of aerospace and defense leadership experience
- Executive agreement includes US$375,000 base salary plus performance incentives
- Strategic focus on expanding Titomic's US operations, particularly in Huntsville, Alabama
- Long-term incentives tied to share price milestones linked to future equity issues
Leadership Consolidation at Titomic
Australian additive manufacturing specialist Titomic Limited (ASX: TTT) has formalised a key leadership appointment by naming Jim Simpson as Managing Director, effective 10 January 2025. Simpson, who joined the company in October 2024 as President of Titomic USA, Inc., and assumed the CEO role on 1 January 2025, now takes a seat on the Board, signalling a consolidation of executive leadership during a critical growth phase.
Simpson’s appointment reflects Titomic’s strategic intent to deepen its footprint in the United States, a market pivotal to its ambitions in aerospace, defense, and industrial-scale metal additive manufacturing. His extensive background, spanning over four decades in satellite, aerospace, and defense sectors, including leadership roles at Virgin Orbit, Boeing, and Aerojet Rocketdyne, positions him uniquely to steer Titomic’s US expansion and commercial development.
Executive Terms and Incentives
The executive employment agreement outlines a base salary of US$375,000, supplemented by participation in US-based benefits such as healthcare and 401k matching. Notably, Simpson’s remuneration package includes a short-term incentive (STI) scheme that can deliver up to 100% of his base salary, split evenly between cash and shares, contingent on meeting stretch sales and strategic partnership targets within his first year.
Long-term incentives (LTI) are structured through a substantial grant of 30 million options over three years, with vesting and further grants tied to Titomic’s share price performance relative to future equity issue prices. These zero-strike price options, expiring seven years after issuance, align Simpson’s interests closely with shareholder value creation and the company’s capital market milestones.
Strategic US Expansion and Operational Focus
Simpson’s leadership has already been instrumental in advancing Titomic’s US operations, particularly the establishment of a presence in Huntsville, Alabama, a hub for aerospace and defense industries. The company’s patented cold spray additive manufacturing technology is well positioned to serve sectors demanding advanced metal restoration, ballistic protection, and tooling solutions.
Executive Chairman Dag W.R. Stromme highlighted Simpson’s impact, noting his “outstanding leadership” and the natural progression to Managing Director as a reflection of his contributions. The appointment underscores Titomic’s commitment to leveraging Simpson’s US national security and commercial aerospace expertise to accelerate growth and innovation.
Looking Ahead
With Simpson at the helm, Titomic is poised to navigate the complexities of scaling its technology and commercial operations internationally. The alignment of executive incentives with share price performance and strategic milestones suggests a clear focus on delivering shareholder value through operational execution and capital market engagement.
Bottom Line?
Simpson’s elevation to Managing Director marks a pivotal step as Titomic targets accelerated growth in the competitive US additive manufacturing landscape.
Questions in the middle?
- What specific sales and partnership targets must Simpson meet to realise his full STI?
- How will Titomic’s upcoming equity issues influence the vesting of Simpson’s long-term incentives?
- What are the key operational milestones planned for the Huntsville facility under Simpson’s leadership?
