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Alexium International Group Appoints Nick Clark As New CEO

Alexium International Group (ASX: AJX) has appointed current chief financial officer Nick Clark as its chief executive officer to be based in Greer, South Carolina.

This recognises the company's success in product development and the need to build the team in the operational headquarters in Greer to maximise licensing opportunities and business development.

The Duro contract and other licensing opportunities being presented to Alexium require the group CEO role to be based in the US to complement the excellent work being undertaken in the U.S. by chief operating officer Stefan Susta and chief technology officer Dr Bob Brookins.

Clark will focus on building Alexium in the U.S., whilst Susta focuses on licensing opportunities, relations with the U.S. Department of Defense, product opportunities and business development.

As Alexium's chief financial officer, Clark successfully oversaw the financial management and financing of the group and its overseas subsidiaries as well managing relationships with shareholders and brokers in Australia and abroad.

He formerly held executive management roles with China's CITIC as well as various management and legal roles in the U.S. including Snap on Tools, a Fortune 500 Company.

Throughout his six years in the U.S., Clark worked with hedge funds and investment banks on investments, mergers and acquisitions, financings and large scale project development.

"Clark's experience, qualifications, networks and drive will be invaluable to Alexium in this next phase of growing revenues, products and markets and the appointment of the Group CEO position in the US highlights the importance of the US markets for Alexium's growth," executive chairman Gavin Rezos.

"This appointment also enables Susta to focus and build on his strong relationships with the U.S. Department of Defense, Duro Textiles and other potential licensing partners with whom Alexium is in discussions."

Alexium will appoint a new company secretary to fill the position that Clark vacates while Kim Lucraft will assume the role of Financial Controller.

The company had recently received recognition as one of the "Top 100 Innovations" in the technical textile market for 2012 and is also transitioning its novel nylon flame-retardant treatment to production with Duro Textiles for the North American market.

Alexium is also broadening its development pipeline to push other lucrative applications, such as nylon-blends and non-textile applications.

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