Orbital CFO to take top job

Orbital Corporation’s long-serving managing director and chief executive, Terry Stinson, has stepped aside with CFO Todd Alder appointed as his successor with immediate effect.

Mr Alder joined the Perth-based technology company in January, after having served as chief financial officer of uranium company Toro Energy.

Mr Stinson, who recently joined graphite-focused Talga Resources’ board as its chairman, will remain on Orbital’s board as a non-executive director.

He has served as Orbital’s CEO and managing director since 2008.

Orbital chairman John Welborn said the company’s leadership succession had been well planned.

“Todd Alder is the right person to lead Orbital at this exciting time,” Mr Welborn said.

“The board is unified and confident that Todd’s skills, experience and enthusiasm will be a strong boost to Orbital’s business strategies.

“Terry Stinson has been a major contributor to the Orbital business over a long time and it is important he remains part of the Orbital team.”

Orbital shares were 7.5 per cent lower to 61 cents each at 11:45am.