SRJ Technologies has replaced both its chair and chief executive as it turns from international expansion toward operational delivery and revenue conversion. Ben Lumley will serve as interim CEO with an initial two-month review period, while Mark Lindh becomes chair.
- George Gourlay resigns as chair and director
- Kurt Reeves departs as CEO by mutual agreement
- Ben Lumley appointed interim CEO with £195,000 basic salary
- Mark Lindh takes over as board chair
- Operational delivery, cash discipline and Middle East growth become priorities
Chair and CEO Depart as SRJ Resets Execution Priorities
SRJ Technologies Group Plc (ASX:SRJ) is changing both its board leadership and executive command as the asset integrity specialist enters what it describes as its next phase of development. George Gourlay has resigned as non-executive chair and director, while CEO Kurt Reeves has departed by mutual agreement.
Existing non-executive director Mark Lindh has been appointed chair, providing continuity at board level. Ben Lumley, who joined SRJ in September as director of asset integrity and business development in Abu Dhabi, becomes interim CEO.
Interim CEO Brings Asset Integrity and Middle East Experience
Lumley is a Chartered Engineer with almost two decades of experience in asset integrity, inspection and non-destructive testing across the UK and Middle East. Before joining SRJ, he held senior roles at Fulkrum, Applus+ UK and Stork Technical Services, including responsibility for inspection operations, advanced NDT capability and asset integrity expansion.
His appointment is interim with no fixed term. The initial two-month period is subject to review. The role carries a basic salary of £195,000, plus other reasonable allowances, with eligibility for incentives at the board’s discretion. Lumley said his focus would be safe and reliable contract delivery, profitable growth in the UAE and wider Middle East, and the use of robotics, UAV inspection and data analysis alongside SRJ’s BoltEx technology.
Commercial Platform Now Faces an Execution Test
SRJ says it has established international asset integrity opportunities, including revenue-generating work under its Dubai Petroleum agreement, additional Middle East engineering assignments and an offshore LNG controls upgrade project. The company has also pointed to expanded inspection activity in markets including Angola, as well as ongoing development of robotic inspection, emissions management and technology-enabled services.
The Dubai Petroleum operations, which had moved into revenue-generating field work, were outlined in the company’s Dubai Petroleum field operations. SRJ has also previously disclosed an offshore LNG controls upgrade in the Middle East. The new announcement does not provide updated contract values, revenue forecasts or financial targets, instead placing the emphasis on converting those opportunities into consistent delivery and profitable revenue.
Cost Control and Working Capital Move Up the Agenda
Under the new leadership structure, SRJ says it will concentrate on contract execution, cost management, working capital, customer relationships and commercial conversion. Those priorities matter because the announcement offers no quantified measure of improved financial performance and does not set a timetable for appointing a permanent CEO.
For shareholders, the leadership changes therefore create a near-term test rather than a fresh operating forecast. The board’s next updates will need to show whether SRJ can deliver its existing contracts, turn its international pipeline into cash-generating work and maintain momentum while Lumley’s interim mandate is reviewed.
Bottom Line?
SRJ has reset its leadership around execution, but the next operational update must demonstrate revenue conversion and financial discipline rather than simply repeat the opportunity pipeline.
Questions in the middle?
- Will the board extend Lumley’s interim mandate or appoint a permanent CEO after the initial two-month review?
- Can SRJ convert its Middle East contracts and opportunities into consistent revenue and improved cash performance?
- What evidence will the company provide that cost management and working capital control are improving?