Redflow restructures leadership team

Australian battery company Redflow has announced leadership changes, including a new managing director and CEO and an independent non-executive chairman, effective immediately, as it prepares to commence manufacturing in Thailand and grow battery sales during the next 12 months.

The company’s largest shareholder Simon Hackett — who became acting CEO 12 months ago — has stepped aside from his executive role after completing a year-long mission to refocus, redirect and recapitalise the business. Hackett will continue as a non-executive director with special oversight for technology-related matters.

The Redflow Board has promoted the chief operating officer, Richard Aird, as CEO to accelerate the company’s new strategic direction announced in May. With more than 20 years’ experience in commercial development and operations, Richard has a thorough understanding of Redflow and its technology from holding various roles with the company since 2009. He has the skills and expertise needed to drive the company as it starts manufacturing batteries in Thailand and implements cost downs in battery production.

The company has also recruited Brett Johnson, Qantas General Counsel from 1995–2012, to its board as independent non-executive chairman, replacing Simon Hackett. Brett brings extensive experience including directorships of listed companies, Scott Corporation (2005–2014) and Helloworld (2009–2016), where he was chairman from August 2014 until December 2015.

Simon’s technology oversight role will comprise external communications, public advocacy for the company’s zinc-bromine flow battery technology and guiding its continuing technical development and direction.

During the past year, Redflow has completed a major strategic redirection. It is transitioning battery production from Mexico to Thailand, refocusing its sales and marketing on lead-acid replacement cycles in the telecommunications, commercial, industrial and off-grid residential sectors, and has raised an additional $14.5 million in equity — including $4 million from Simon Hackett.

Simon Hackett said, “With running the business and the board now in the hands of professionals in those fields, I can focus my passion, skills and energy on successfully overseeing the interface between Redflow’s unique technology into real-world energy systems and communication of these benefits to customers and industry.

“The past year has seen strong demand for our batteries, so my goal is to ensure that as we scale up production, our partners find it easy to integrate Redflow batteries into energy storage systems.”