Terry Arden has stepped down as CEO of LMI Technologies. He has been working for the firm for 18 years.
Mark Radford, LMI’s chief operating officer, will succeed Arden as CEO.
Arden will continue on a part-time basis with LMI as chief brand officer to support the LMI executive in product and business strategy development. He has taken the decision to spend more time with friends and family.
Alexander van der Lof, CEO of TKH Group, LMI’s parent company, stated: 'It is of course a major step that Terry is making and we very much appreciate that Terry will continue to support LMI. His leadership and entrepreneurial spirit as well as his vision to bring LMI to technology and market leadership in the 3D vision industry are extraordinary, and we are very grateful for the passion and commitment that Terry has shown.'
Arden said: 'LMI has been my passion and focus for the past 18 years. During this time, I learned so much and was fortunate to translate market mega-trends into winning moves that grew the company into the dominant player it is today.'
He went on to note that, over the past 10 years, LMI has achieved 20 per cent average year-on-year revenue growth. He said that 'the LMI growth story is primarily a testament to the many bright minds at LMI who demonstrate excellence in their fields to deliver great products and customer experiences.'
Radford, who was promoted to COO in 2016, previously held the roles of director of operations since 2014, and director of technology since 2012. Radford joined LMI in 2006 and has a broad range of knowledge and experience with LMI’s products, services, operations and customers.
Radford stated: 'I am honoured to be selected as the next CEO of LMI, and want to thank both Terry and the TKH executive board for the opportunity and confidence they have placed in me to lead this strong organisation. Terry has been a fantastic mentor these past 14 years. I look forward to working with the LMI team to continue delivering technology leadership and industry-leading solutions to our customers.'
