North East development and manufacturing leader Tharsus has strengthened its Board line-up with the appointment of former Quantum Pharmaceutical’s Finance Director Martin Such as its new Chief Financial Officer (CFO).
The firm, which is one of the UK’s leading contract manufacturers, has enjoyed rapid growth in recent years under the guidance of CEO Brian Palmer, who took the helm in 2003.
Working with the other Board members, Martin will be tasked with scaling the business as Tharsus Group, which comprises Tharsus Vision, Tharsus Direct and Tharsus Engineering, embarks on its ambitious global growth plans.
Commenting on how he foresees the business developing, Martin said: “The engineering business in particular has been a traditional metal working business and certainly seems to have good prospects for growth, so it’s not all about Vision. The two arms of the business seem to complement each other very well. Tharsus Vision clearly has an opportunity to be at the forefront of robotics design and manufacture.”
Martin, whose background is in management accounting, has worked at some of the region’s most successful companies, including positions at British Engines and Tanfield Group.
Most recently, an impressive stint at Durham-based Quantum Pharma saw him play a key role in guiding the company to an IPO of £125m.
Reflecting on his appointment, Martin said: “There were a few things that attracted me to Tharsus. Firstly, it suits my skillset, which is managing a business that needs a certain amount of professionalising in certain areas and embarking on a steep growth curve.
“So it suited my skills, but more importantly, I got the impression that people enjoy working here. It’s got a really good culture and I think the product markets that we’re entering into, particularly the robotics space, are exciting.”
Tharsus CEO Brian Palmer added: “Martin’s extensive experience in nurturing mid-sized businesses makes him an invaluable asset to the expanding Tharsus team. We’ve got ambitious growth plans, and I’m sure that Martin’s astute mind for business will help to steer us through the inevitable challenges of entering new global markets.”
Tharsus has over 50 years’ pedigree in the engineering and manufacturing sector and expects to turnover in excess of £100m within the next five years, driven by expansion into the robotics sphere.