David MacNaughton has been appointed as chair of Therme Ventures – the division within Therme Group that focuses on strategic partnerships and investments.

Therme says MacNaughton will work closely with the company’s stakeholders to ensure its ventures are positioned for long-term success.

He will be responsible for strengthening existing initiatives, exploring new opportunities and shaping growth strategies that align with the brand.

MacNaughton is a Canadian diplomat, political advisor, strategy consultant and president of AI software development company Palantir Technologies Canada. Between 2016 and 2019 he worked in public office as the Canadian ambassador to the United States.

Robert Hanea, CEO and founder of Therme Group, said: “David brings a wealth of experience and a partnership-driven approach that will strengthen Therme Ventures’ ability to deliver innovative projects and collaborations. His leadership will be instrumental as we expand our ventures portfolio, creating new pathways to wellbeing for communities worldwide.”

Global expansion

Earlier this year, Therme Group announced a strategic joint venture with private equity firm CVC Capital Partners called Therme Horizon. The new platform will drive strategic growth, expanding the Therme concept with new developments, funding acquisitions across Europe and enhancing existing facilities.

Therme Group’s plans for global expansion include active projects in Germany, across the US, Canada, Scotland and

South Korea. Earlier this year the Group also announced plans for a 100m-high ‘oasis in the sky’ in Dubai.