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Commander CEO Out: Marketer Installed |
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Written by Adam Gosling
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Monday, 10 December 2007 |
Commander Communications has announced the appointment of a new Managing Director and CEO after outgoing CEO Adrian Coote 'tendered his resignation' to the Board.
According to a statement issued to the ASX, Coote,who is currently
on leave will remain in the position of CEO until 7 January 2008. "This
will ensure that if necessary, the company can make use of his strong
relationships with customers and suppliers in order to effect a smooth
leadership transition".
In an address to shareholders released ten days ago, Nosworthy hinted a change but it did not seem so quite so imminent. "It is the Board's
view that over time we must add to management strength by bringing new
talent into the company. However, our existing management have strong
and durable relationships with out customers and we will not be making
changes at a pace that damages the company's relation ships and
prospects," she said.
Coote will be replaced by Amanda Lacaze
whose resume includes Executive Chairman of Orion Telecommunications,
CEO of AOL|7 and Managing Director of Marketing at Telstra. She has a Bachelors of Arts Degree from University of Queensland and a post graduate Diploma in Marketing from the Australian Graduate School of Management. Her early work experience was in consumer goods with Nestle and Philip Morris (chocolate and cigarettes?).
Lacaze is seen as a
turn around expert by the Commander Board. During her time at Orion
"she led a series of changes which resulted in the share price
increasing from 12.5c/share when she joined to an effective 28.5 cent a
share when the business sold to M2 Telecommunications", says the statement.
But
Commander Chair Elizabeth Nosworthy says that while the company will
continue to seek a way to reduced its burgeoning debt amassed during
the hostile takeover of Volante, the Board will not be contemplating
any proposals for a break-up of the core elements of the company.
Nosworthy,
who has been strongly criticised in the media for her own performance,
thanked Adrian Coote for his contribution during the
past 4 years he has spent in the role. "Adrian has led the company
through a period of major acquisition and growth and has developed
andarticulated
a clear strategic direction for the company. The Board continues to
support that strategy as do our many loyal customers and franchisees,"
she said in the statement.
"I am sure that our many employees,
franchisees, customers and suppliers wish him well for the future. The
Board also thanks him for his efforts. He leaves the company with our
support, friendship and best wishes," she said.
The company also announced the appointment of a new non-executive director - Shane Allan.
Commander Chairman's Mea Culpa
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