Kwesst Micro Systems Inc. has appointed Steven Archambault, CPA, CA, as the company’s new chief financial officer.
Mr. Archambault brings a wealth of international finance experience to Kwesst. With 15 years of public company experience, he has deep functional expertise and technical knowledge in all aspects of corporate finance, financial planning and accounting, in addition to merger and acquisitions. Mr. Archambault will commence immediately, replacing Paul Kania.
Mr. Kania has been on contract as CFO since November, 2019, to position the company for its going-public transaction and will remain available to Kwesst as an adviser to facilitate the transition. David Luxton, executive chairman, thanked Mr. Kania on behalf of the board for his assistance in getting the company to this milestone.
“We’re delighted to welcome Steven Archambault on board,” added Mr. Luxton. “He has the rare combination of experience and ability to contribute to the company’s strategic agenda as well as ensure operational excellence as the company grows from here.”
Mr. Archambault commented, “I’m excited to be joining the Kwesst leadership team at a time when the company continues to gain traction with its disruptive technologies in the defence and security community, and the potential for outsized growth on a global scale with superior returns to shareholders.”
Mr. Archambault’s appointment will initially be on a part-time employment basis for the next six months with Kwesst having the option to convert the employment to a full-time indefinite period.
In connection with his appointment, Mr. Archambault has been granted 250,000 options exercisable at a price of 75 cents until Sept. 29, 2025.
Steven Archambault bio
Mr. Archambault began his career as a CPA, CA, with Ernst & Young LLP, followed by senior finance positions at AXIS Capital, a global insurer and reinsurer, and more recently had CFO roles with small-cap public Canadian companies listed on the TSX Venture Exchange and Canadian Securities Exchange in media broadcasting technology and health and wellness industries.
KWESST deveops and commercializes high-value ultra-miniaturized technology applications that make a critical difference to the safety and operational effectiveness of personnel in the defence and security community. The company’s current portfolio of unique proprietary offerings include: its signature TASCS™ (Tactical and Situational Control System) for real-time awareness and targeting information from any source (including drones) streamed directly to users’ smart devices and weapons; the autonomous Grey Ghost™ kinetic impact missile system that defends against small hostile drones including swarms; a Ground Laser Defence system to counter the emerging threat of weaponized lasers against personnel; and, the Phantom™ Tactical Electronic Decoy to mask the electromagnetic signature of friendly forces with decoy “phantom” signatures at false locations to deceive and confuse adversaries. All systems can operate stand-alone or integrate seamlessly with OEM products and battlefield management systems including Frontline, Edge, Killswitch and ATAK (Android Tactical Assault Kit) among others. KWESST also has developmental “smart ordnance” projects including its “Shot Counter” system, which records the number and type of rounds fired, for optimized firearms maintenance and performance. The Company is headquartered in Ottawa, Canada, with representative offices in Washington, DC, London, UK and Abu Dhabi, UAE.
The Company trades on the TSXV exchange under the symbol KWE. For more information please visit kwesst.com.