Titomic is losing its CEO, as Gilbert Michaca moves on to things “more aligned” with his interests.

Mr Michaca only joined in April.

Titomic founder Jeffrey Lang is back in the hot seat as managing director and interim CEO, after relinquishing the role to Mr Michaca.

A company spokesman said the board will be considering whether to hire a new CEO.

Mr Michaca was the boss of Melbourne tech commercialisation star Grey Innovation before leading Titomic, and before that was involved in a venture capital business called Verde Innovation.

Titomic followed that news by saying a defence contract had been renewed with TAUV Proprietary.

The deal will move into phases two and three, which it says is worth $1.8 million to make unmanned aerial vehicles — drones — soldier systems and soldier sensors for TAUV.

Titomic shares were up 4 per cent at $1.67.

The company’s share price surged in May after it opened its 3D metal printing factory.

Titomic shares over the last 12 months.

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