HITIQ Limited advised that its co-founder and Managing Director (MD) /Chief Executive Officer (CEO), Mike Vegar, has retired from his board and CEO roles and transitioned to a specific operational role concentrating on product enhancement and strategic partnerships, as directed by the Interim or any newly appointed CEO. Current Non-Executive Director Glenn Smith has been appointed Interim CEO on a rolling monthly basis. Mr. Smith will be based in the Company's Melbourne office.

Mr. Smith, who joined HITIQ in December 2019 as Non-Executive Director, is a seasoned "C-level" executive, commercialization leader and venture capitalist, having previously held the positions of MD /CEO at various ASX listed and private businesses. Mr. Smith will concentrate on a shift in emphasis from technical to commercial leadership, working alongside current executive team. This leadership change comes at a critical time for HITIQ as it focuses on commercializing the platform, including the launch of the ConneQt product.

Following his retirement as Managing Director and CEO, Mr. Vegar will assist the transition and focus on key product initiatives and strategic partnerships.