PWR announces incoming CFO

Automotive, aerospace and defence manufacturer PWR Holdings has announced that Sharyn Williams will become the company’s new Chief Financial Officer, replacing Martin McIver and beginning in the role early next year.

In a statement on Tuesday, the company told investors that Williams has “15 years of ASX-listed experience as an Executive Leader and Chief Financial Officer” as well as “a strong background in driving strategic, financial, governance and operational outcomes in a variety of industries”. 

According to the statement, Williams will begin in the first quarter of calendar year 2025, with McIver to stay in the role and provide a handover to the incoming CFO.

Managing Director Kees Weel said that the company is “delighted that someone of Sharyn’s calibre has agreed to join the PWR team and support our growth journey” and thanked McIver, “who has been fundamental in supporting the financial operations of the Group and navigating the Treasury and Finance functions through our periods of significant growth.”

In August PWR reported a net profit after tax of $24.8 million for the last financial year, and revenue up 17.8 per cent to $139.4 million.

Its emerging technologies division – including its work in defence and aerospace – increased 57.8 per cent over the period to represent 25.1 of group revenue.

The company has a history in heat exchanger technologies for demanding automotive applications, including Formula 1, NASCAR, IndyCar and other varieties of racing. 

McIver has been in the role since April 2021.

Williams’s attainments include an MBA and Bachelor degrees in Business and Education, and she is a Fellow of both CPA Australia and the Governance Institute of Australia. 

Picture: credit PWR Advanced Cooling Technology

Further reading

Defence industry partnering for success – how PWR went from F1 to drone technologies

PWR’s investment in expansion pays off

PWR’s record revenue and profits

PWR to invest $22 million in expansion, open new factory