Scidev (ASX:SDV) promotes Seán Halpin to permanent CEO

• Scidev (SDV) makes Seán Halpin its permanent Chief Executive Officer
• Mr Halpin was appointed interim CEO in April after Lewis Utting resigned as CEO and Managing Director to focus on family matters
• SciDev Chairman Vaughan Busby says Mr Halpin performed “exceptionally” in the role of interim CEO, and believes he is the right person to continue growing the customer base
• Before stepping in as acting CEO, Mr Halpin was Commercial Director of Water Services after Haldon Industries was acquired by SDV, of which Mr Halpin was Co-Founder
• Scidev shares are up 3.85 per cent to trade at 26 cents at 10:40 am AEDT

Environmental solutions company, Scidev (SDV) has appointed Seán Halpin as its permanent Chief Executive Officer.

Mr Halpin was appointed interim CEO in April after Lewis Utting resigned as CEO and Managing Director to focus on family matters.

In May 2021, Scidev acquired Haldon Industries, of which Mr Halpin was the Co-Founder and Commercial Director.

Following the acquisition, Seán was made Commercial Director of Water Services before stepping in as interim CEO.

SciDev Chairman Vaughan Busby said Mr Halpin has performed “exceptionally” in the role of Interim CEO, and believes he is the right person to continue growing SciDev’s customer base and delivering returns to shareholders.

As permanent CEO, Mr Halpin will receive an annual salary of $350,000 and is eligible for short and long term incentives based on achieving KPI’s.

With his appointment, SDV completed a review of the Haldon acquisition agreement, given the final earn-out payment was outstanding.

Given the “strong performance” of water services, including FY23 revenues to date and contracted projects, and the change of Sean’s role, Scidev said the Haldon acquisition terms had been varied so that the third and final tranche payment, due in quarter three of 2023 is now unconditional.

This does not necessitate a change in the amount due, which was recorded as a contingent liability on the company’s balance sheet and would become a liability at the half year.

Scidev shares were up 3.85 per cent to trade at 26 cents at 10:40 am AEDT.