Midas and Klark Teknik has announced that managing director John Oakley has left the company.
The firm has revealed plans a restructure of its management team that sees former Harman man Ian Riley take on the role of VP operations and R&D. Jonathan Chitty is now VP Customer Support, a new division formed to handle commercial and financial matters. Alex Cooper will remain with the company as an R&D consultant to Midas and Klark Teknik to oversee ongoing and future products.
The Uli Behringer-owner Music Group, which bought the companies in 2009, has reportedly invested $10m in a dedicated manufacturing facility for the Midas and Klark Teknik brands. It has also invested another $10m in state-of-the-art SMT and optical inspection systems.
The firm has stated that it will invest further money in expanding Midas and Klark Teknik’s R&D "centre of excellence" in Manchester, UK.
Uli Behringer, CEO of the MUSIC Group said: “I am sad to see John leave the company after all he has done for Midas and Klark Teknik. We wish him all the best for the future. With the strong team we have in place now, Midas and Klark Teknik is already seeing a strong increase in revenue streams and the volume of products shipped such as the new Venice F which is in full mass production."