In a surprise move, Innovative Technology managing director Kevin Ashurst has resigned to "pursue other businesses."
He will be replaced by Aidan Towey, group commercial director. In turn, Towey will be replaced by Marcus Tiedt, managing director of the company’s German subsidiary, Automated Transactions, which is based in Hamburg.
Innovative Technology, based in Oldham, has produced bill validators for the past 14 years - the famous ‘Smiley,’ or NV1. Several versions later, more than 1.75 million have been shipped to 80 countries.
In a separate announcement, the company said that in the future manufacturing will be carried out in China, where it has three partner companies to make an updated version of NV9 and NV10 for Europe and Asia.
