Ex-Holden MD joins Carbon Revolution board ahead of planned IPO

Mark Bernhard, the former chairman and managing director at GM Holden until August last year, has joined Carbon Revolution ahead of its planned listing on the stock exchange.

Bernhard was a long-serving General Motors employee, and headed Holden for three years, overseeing the end of their local assembly operations in October 2017.

GoAutoNews reports him as saying, “When I left I had lots of advice that I couldn’t stay ‘retired’ and that advice has proven correct. It’s now time to get back involved and I’ve now embarked on a non-executive director role at Carbon Revolution – at an exciting manufacturing company based here in Victoria, Australia – that’s right back to a company that ‘makes things’, coupled with having great growth momentum and massive potential.”

Australasian Lawyer reports that Carbon Revolution completed a pre-IPO capital raising last month, advised by Ashurst, and issuing $73.4 million in convertible notes.

Carbon Revolution is based in Waurn Ponds, Geelong and manufactures one-piece carbon fibre wheels, which offer weight savings of 40 – 50 per cent as well as other advantages over aluminium alloys. Its ASX listing is expected within the next 12 months.

Picture: www.aamc.org.au/portfolio-items/carbon-revolution/

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