SYDNEY: VEEM Limited (ASX: VEE), a designer and manufacturer of disruptive, high-technology marine propulsion and stabilization systems, announced the promotion of current Chief Operating Officer, Mr Trevor Raman, to the new position of Chief Executive Officer and the promotion of current Finance Manager, Mr Tino Kapfumo, to the roles of Chief Financial Officer and Company Secretary. All appointments take effect from 1 July 2024.

Mark Miocevich will continue in the role of Managing Director and the current Chief Financial Officer, Mr David Rich, will take up the role of Head of Corporate Development and remain a Company Secretary.

VEEM Managing Director, Mark Miocevich, said: “It is with great pleasure that we have promoted Trevor Raman to the new position of Chief Executive Officer and Tino Kapfumo as Chief Financial Officer. Trevor’s management of VEEM’s operations over the last 15 months has been instrumental in delivering the increased output, revenue and resultant profit increases we have generated whilst Tino has delivered exception performance as our Finance Manager making him the ideal professional to become VEEM’s new CFO.

“Both Trevor’s and Tino’s appointments are part of the executive development program we have been working on at VEEM in order to set the platform for VEEM to continue its recent growth path.”

Mr Trevor Raman holds a tertiary qualification in Mechanical Engineering with a postgraduate degree in Business Administration, Management and Operations and is also a graduate of the Australian Institute of Company Directors. Trevor has over 20 years’ experience in engineering operations with the majority of his executive experience in manufacturing and operations. Trevor has been at VEEM since March 2022.

Mr Tino Kapfumo is a Chartered Accountant with over 15 years’ experience, initially with both Big 4 and mid-tier audit and assurance accounting practices and more recently within small to medium sized ASX listed entities. Tino has been VEEM’s Finance Manager for 18 months and is a fellow of the Governance Institute of Australia.