RAK organisational transformation and Executive restructure

Rakon Limited
T +64 9 573 5554
8 Sylvia Park Road, Mt Wellington, Auckland 1060, New Zealand
Private Bag 99943, Newmarket, Auckland 1149, New Zealand




Market Release
Rakon announces organisational transformation and Executive team restructure

3 February 2025 – Rakon Limited (NZX:RAK), a world leading manufacturer of frequency control
and timing solutions, today announces details of its strategic organisational transformation,
including a realignment of its global Business Units and Executive leadership.

Effective immediately Rakon will transition to a market-based business structure. Under the new
structure, two global Business Units (BUs) have been established: Aerospace and Defence; and
Commercial (Telecom, AI, Positioning & Other). They have replaced the company’s three previous
BUs that were structured around Rakon’s global manufacturing centres (New Zealand, India and
France).

Chief Executive Sinan Altug, states that these structural changes are designed to position Rakon
for sustainable growth, operational excellence, and a sharper focus on customer needs.

“This strategic realignment reinforces our commitment to driving customer-centric innovation, and
enables us to be laser-focused on our customers, while increasing profitability and enhancing our
competitive edge in our core markets,” says Altug.
“By structuring our business around core markets, we aim to drive sharper strategic execution,
stronger leadership accountability, and streamlined operations that will enable us to accelerate
growth. The Business Units will have the autonomy and be resourced to drive market leadership,
supported by a central framework that enhances collaboration, investment efficiency, and
operational effectiveness.”
Each BU will be led by a Managing Director, reporting to the CEO, with clear accountability for
market, product, and customer strategies, as well as business unit performance.
Michel Zecri has been appointed as the Managing Director, Aerospace and Defence. Based in
France, Zecri brings over 20 years of experience in space, defence, and industrial operations
management, most recently serving as CEO of Lynred USA, a company specialising in engineered
infrared detection technology for space and defence applications.
Adam Robinson has been appointed as Interim Managing Director, Commercial (Telecom, AI,
Positioning & Other). Since joining Rakon in 2009, he has played a key role in the company’s
growth. As Global Head of Sales since 2019, he has driven Tier 1 customer engagement, expanded
market reach, and secured strategic partnerships that have strengthened Rakon’s position in key
sectors.
As part of the broader transformation, Rakon has executed a strategic reorganisation of the rest of
its Executive Team, in addition to the two new Managing Director roles, to enhance leadership
effectiveness and drive business performance.

In late 2024, Mark Dunwoodie was permanently appointed as Rakon’s Chief Financial Officer,
bringing a strong financial and strategic leadership background to the role. Also, Brent Robinson

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and Darren Robinson retired from their respective positions as Chief Technology Officer and Chief
Marketing Officer after decades of dedicated service and significant contributions to Rakon’s
success. Their leadership played a pivotal role in shaping the company’s technology, market
presence, and global reputation. The latter two roles have now been disestablished.

The Chief Technology Officer responsibilities are now incorporated into a newly created Chief
Innovation Officer position, ensuring continued focus on Advanced R&D and Technology
innovation. The Chief Marketing Officer responsibilities are split according to Business Unit and
incorporated into the two new Managing Director positions, aligning commercial strategy directly
with Business Unit leadership.

Effective immediately, the following Executive positions have been created:
Nick Pudney has been appointed as Chief Operating Officer (COO) transitioning from his former
role as Rakon’s Chief Transformation and Operations Officer NZ (now disestablished). Pudney
joined Rakon in 2024 and has over 25 years of experience and a strong background in leading
complex, large-scale technology and change programmes across various sectors. Previously, he
was Head of Integration at Mercury NZ where he successfully led the acquisition and integration
of Trustpower’s retail businesses. As COO, Pudney is responsible for overseeing Rakon’s global
operations, ensuring efficiency, scalability, and operational excellence. He also leads the global
rollout of Rakon’s strategic organisational transformation, driving alignment across processes,
optimising resource allocation, and reinforcing the company’s long-term operational strategy.
Michael McIlroy, Rakon's Advanced Technology Manager, has been promoted to Chief
Innovation Officer (CIO). Since joining Rakon in 1991, he has held leadership roles across R&D,
engineering, and manufacturing, shaping the company’s technical capabilities. As CIO, McIlroy will
define and drive Rakon’s global technology vision, leading strategic R&D initiatives to strengthen
innovation and maintain the company’s competitive edge. He will oversee next-generation product
development, ensure alignment between technology and market demands, and expand Rakon’s
intellectual property portfolio through advanced research and development.
Chloé Gautrin, Interim Managing Director for Rakon France, has been appointed as Executive
GM, Strategy and Growth, and will transition into the role on 1 April 2025. Prior to joining Rakon
in 2024, Gautrin spent 16 years as a professional services adviser, specialising in Capital Markets
and Transaction Advisory Services, including 5 years as a Partner of Corporate Finance at Deloitte,
New Zealand. She will drive the development and execution of Rakon’s long-term strategy,
ensuring alignment with corporate objectives and shareholder value creation, as well as playing a
central role in identifying and driving organic and inorganic growth opportunities. Working closely
with the rest of the executive team, Gautrin will also focus on enhancing capital allocation,
maintaining financial discipline, and positioning Rakon for sustained competitive advantage.
In addition to these leadership appointments, Rakon’s Executive Team retains the expertise and
leadership of Arun Parasnis (Managing Director, Rakon India), Margo Thomas (Global GM People
& Capability) and Maureen Shaddick (General Counsel & Company Secretary).

ENDS

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About Rakon
Rakon’s products help people to connect, explore and innovate. They are the ‘heartbeat’ for
electronic systems, delivering fast, precise and stable timing in everything from mobile networks
and autonomous vehicles to satellite constellations and AI data centres.

Whether connecting to a 5G tower or to a rover exploring Mars, our technology is relied on to
deliver the highest performance in even the most extreme conditions. Thanks to our constant drive
to innovate, we continue to empower our customers to create the next-generation of life-
transforming technologies. For more information, visit rakon.com.

Contact:
Investor and media
Nick Laurent
Investor and Corporate Communications Manager
investors@rakon.com
+64 21 240 7541
www.rakon.com