Publicly listed software-as-a-service (SaaS) vendor Vection Technologies has appointed Damian Banks as its new chairman of the board.
The Australian Securities Exchange-listed company will see its outgoing chairman Bert Mondello transition to a non-executive director role.
Vection specialises in virtual reality and SaaS. As chairman of the vendor, Banks will bring a wealth of experience in financial management, technology and people and has a strong history of developing customer-focused cultures, the company told shareholders.
Banks served as managing director and CEO of Konekt, a technology-focused healthcare and employment company until its successful sale in December 2019.
Before this, he held several leadership roles with Westpac and has significant experience leading businesses with strong organic growth, as well as mergers, acquisitions and integrations – "both important features of Vection Technologies’ future", the company added.
Vection managing director Gianmarco Biagi said Banks' appointment was a "significant" step for the vendor in "enhancing our compliance efforts and bringing on board individuals who share the company's vision as we embark on the next phase of our growth journey".
"Damian brings a wealth of compliance knowledge and business acumen that will undoubtedly enhance our strategic direction," he added. "His appointment will play a pivotal role in our ongoing success and growth, aligning with our vision for the future. We want to thank Bert for his contributions as chairman since his appointment and look forward to his continuing involvement with the company.”