SYDNEY, AUSTRALIA: Dynamic Group Holdings (ASX: DDB) notifies that highly experienced mining services executive Mr Geoff Newman will join the Company as group Chief Executive Officer (CEO) from March 2023.
Geoff Newman has operated at an executive level within the contracting and mining services sector for over 22 years. Most recently Geoff has performed various executive level roles within Emeco Holdings Ltd (ASX: EHL) since 2013. Prior to Mr Newman’s time with Emeco, he was CEO for a water drilling business which provided similar services to Dynamic Group’s wholly owned Welldrill subsidiary. Mr Newman has also held another executive position within a drilling business.
Mr Newman holds a Bachelor of Engineering (Hons) from the University of Western Australia and has strong commercial acumen complementing his technical and operational skill set.
Mr Newman has held several international and national appointments and has relevant executive positions through growth phases driven organically and via acquisition.
Dynamic Group Chairman Mr Garret Dixon said: “Geoff’s decision to join the Dynamic Group is pleasing as he has recognised the potential for significant value to be enabled through the application of his experience, capabilities, and enthusiasm to the group.
We welcome Geoff on-board and will be providing the support to Geoff to focus on generating shareholder returns in the most efficient and effective manner, he is an exceptional addition to the team.”
Geoff Newman has proven capability to hold financial and operational accountability for large and complex contracting and mining services businesses, including the preparation and execution of growth strategies.
After listing on the ASX in August of 2020, the Dynamic Group has grown from A$15m of revenue in FY20 to A$74m in revenue in FY22, EBITDA has grown from A$2.2m in FY20 to A$17.1m in FY22, and net assets have grown from A$0.52m in FY20 to A$36.6min FY221.
The business has grown to a fleet of 47 drill rigs and around 300 people who enable the successful operation of the business.
The company provides a hugely prospective platform for continued growth with the addition of Mr Newman to the capable, complimentary, and experienced executive leadership team.
Incoming Group CEO Mr Geoff Newman said: “My contracting background provides the platform for me to draw on previous experience to focus on the optimisation of the Dynamic Group, whilst remaining focussed on creating shareholder value in a safe, efficient and sustainable manner. I look forward to joining the team in March 2023, where we can work together to optimise operations, identify growth opportunities and the development of strategic plans.”