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Director Appointments

Allied Minds confirms new CEO for STT

12 July 2017 08:12

Allied Minds has announced the appointment of Tom Sparkman as chief executive officer of Spin Transfer Technologies, succeeding Barry Hoberman.

Sparkman has nearly 35 years of commercial experience across circuit manufacturers, semiconductors and wireless technologies.

Allied Minds chief executive Jill Smith said: "We are delighted to welcome Tom to STT as CEO.

"Tom stood out as the natural candidate to lead STT into the next phase based on his extensive commercial experience across highly relevant sectors, and proven track record in driving sales growth, securing strategic partnerships and raising capital.

"His experience and skill-set are well aligned to the objectives of STT at this critical juncture as it focuses on the commercial exploitation of its product differentiators.

"I am excited to have someone of Tom's leadership stature and commercial acumen at the helm of STT and look forward to working closely with him.

"The Board of STT would like to thank Barry for his contribution in leading STT over the last five years and wishes him well in his future endeavours."

Spin Transfer Technologies was established by Allied Minds and New York University to develop and commercialise its Orthogonal Spin Transfer Magneto-Resistive Random Access Memory technology, OST-MRAM.

The technology, invented by Professor Andrew Kent, is a disruptive innovation in the field of spin-transfer-based MRAM devices, enabling faster switching times, lower power operation, lower manufactured device cost, and scalability to smaller lithographic dimensions.

At 8:12am: (LON:ALM) Allied Minds PLC share price was -2p at 161p

Story provided by StockMarketWire.com

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