Kleos Space, a space-powered Radio Frequency Reconnaissance data-as-a-service (DaaS) company, said that Chairman Air Commodore Pete Round has notified the board of his intention to step down from his board role within the next 12 months, after overseeing the transition to an independent chair.
The board and Round determined that with the business in a strong position, entering its commercial revenue phase, the time was now right to commence the search for a new independent non-executive director and chair to enhance the corporate governance structures of the company through its next growth phase.
Round will oversee this transition, which aligns with Kleos’ broader strategy of continual improvement and enhancement of its governance and regulatory regime, including moving towards a majority independent Board. Round will remain as chair until the appointment of a candidate exhibiting the requisite skills and experience, and then work with the board and his successor to ensure an orderly and seamless transition. Once his successor is appointed, Round will step down from the board, but remain with Kleos in an operational capacity, as senior government liaison and military advisor.
The company also announced that it has appointed New York-based James Quella, a veteran business leader and a senior advisor to Blackstone, to its advisory board. Quella has recently acquired equity in Kleos and holds approximately 2.5 percent of total issued capital. Commenting on the appointment, Kleos CEO Andy Bowyer said, “It is an incredible honour to have James involved in the Company. We look forward to working with and learning from him to further grow our public market experience, as well as leveraging his experiences growing data subscription and sales businesses to capitalise on the revenue opportunities for our data products.”
Quella said, “I look forward to working with Kleos Space to build on a strong foundation of growth as the Company expands in the U.S. and continues to add critical capabilities to its data-as-a-service offering.”