Growing Northumberland firm Avid Technology Group has appointed one of the North’s East best known business figures as its new chairman.
North East LEP chair and former SMD chief executive Andrew Hodgson has joined Cramlington-based Avid, a pioneer in vehicle electrification and hybridisation, which designs, manufactures and exports electric motors and powertrain components from its base for the next generation of hybrid and electric vehicles.
Avid exports its products and services into mainland Europe, the US and Asia and is now wanting to scale up, tapping into Mr Hodgson’s expertise and wealth of experience to help it grow. Mr Hodgson, who takes on the new role with immediate effect, has held various chief executive and senior board positions in high-end engineering businesses, including Wallsend’s Soil Machine Dynamics (SMD) Spirit Aerosystems, Airbus and BAE Systems.
Avid managing director Ryan Maughan said: “I am absolutely delighted to welcome Andrew to the Avid team. He brings a wealth of knowledge from his highly successful career building and scaling high growth technology focused businesses.
“I am looking forward to learning from his experiences and working together to further accelerate the growth of Avid.
“There is a fantastic opportunity to scale the Avid business right now, creating a true global leader in electrified powertrain components and a major employer in the region as the automotive market shifts to electric power.”
Mr Hodgson said: “I am thrilled to join the Avid board, I’ve known the company for a number of years and when the opportunity arose to join Ryan’s team, it was too good an opportunity to pass up.
“My focus and experience lies in high growth, high tech businesses. Carbon reduction and climate change are major global issues and the electrification of vehicles is a huge opportunity.
“I am excited for the future of the business and believe that we are very fortunate to have a company with the capability, capacity and expertise of Avid based in the North East, and I look forward to the challenge of helping to drive its continued growth.”
Avid’s customer base includes high performance passenger car manufacturers and motorsport, heavy-duty trucks, buses and off-highway machinery manufacturers, including AB Volvo, Caterpillar, Cummins, Jaguar Land Rover, McLaren Automotive, Paccar and Scania. Its growing reputation as one of the most advanced and skilled businesses in the electric vehicle sector led to Avid being named a potential tech ‘unicorn’ by international investment group GP Bullhound in 2018.