Seeing Machines appoints new finance chief as Rule steps down

Driver monitoring technology company Seeing Machines announced the appointment of Martin Ive as its new chief financial officer on Friday. With effect from 14 November.

The AIM-traded firm said Ive was joining its executive team from Australian software company Altium, where he started in 2004.

During his time at Altium, he performed a number of roles in Australia and the United States, including senior vice-president of finance, and CFO, overseeing the global finance organisation and the company's compliance and statutory requirements, while providing business support to Altium's global sales teams.

Prior to Altium, Ive trained as an auditor in the UK before moving to Sydney, and holding a management position in the business services group at Grant Thornton.

He is a member of the Institute of Chartered Accountants in Australia, holds a BA Hons in Accounting from Portsmouth University, and an MBA from Macquarie Graduate School of Management.

Ive would not be appointed to the Seeing Machines board.

Additionally, the company confirmed that Naomi Rule had announced she was stepping down as CFO to pursue other opportunities.

Rule would “work closely” with Ive in the coming month to conduct a comprehensive handover.

“On behalf of the entire team and board of directors, I would like to thank Naomi for her commitment and dedication to Seeing Machines over the past three years,” said chief executive officer Paul McGlone.

“She has made an invaluable contribution in strengthening our financial reporting and performance and I would personally like to thank Naomi for her support as an executive team member over this time.

“I am delighted to welcome Martin to the team.”

McGlone described Ive as a “highly experienced” finance professional and chartered accountant, who was responsible for leading the development of Altium's business intelligence capabilities to provide insights and information, guiding operational and strategic decisions.

“I very much look forward to working closely with him to drive the next phase of growth for Seeing Machines.”

At 1213 GMT, shares in Seeing Machines were down 2.16% at 6.8p.

Reporting by Josh White for Sharecast.com.