OTOC (ASX: OTC) has appointed former BHP Billiton (ASX: BHP) executive Simon Thomas as its new chief executive officer with current CEO Adam Lamond assuming the role of executive director for corporate strategy.
Thomas has over 22 years' experience in the oil & gas, minerals processing, materials handling and manufacturing industries.
Prior to joining OTOC, he held the position of Project Manager on BHP's Jimblebar project, where he was responsible for the overall development and delivery of the Jimblebar Process and Non Process Infrastructure.
OTOC chairman Derek La Ferla said Thomas' management experience and history in professional services within the mining and oil and gas industries will be invaluable as the company enters its next phase of growth and diversification.
"I am pleased to have Simon join the OTOC team and believe attracting a person of Simon's calibre is testament to OTOC's strong operating fundamentals, financial position and growth outlook," Lamond said.
"I look forward to working with Simon and building upon our stated strategy of developing OTOC into a leading diversified infrastructure services company.
"I remain fully committed to OTOC and I am personally excited by the opportunity to focus on building new business opportunities and expanding OTOC's service offerings."
The company is targeting acquisitions with established revenue streams that would provide diversification to its earnings.
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