Adrad Holdings (ASX:AHL) CEO Don Cormack to step down

• Adrad Holdings (AHL) CEO Don Cormack is set to resign from the business less than six months after the company listed on the ASX
• Mr Cormack has been in the top role since 2006, leading the heat transfer solutions company to IPO in September last year, at an issue price of $1.50
• Mr Cormack will stay with the company until a replacement is appointed, at a date to be agreed upon later in the year
• AHL shares were down 5.6 per cent and trading at $1 at market close on Wednesday

Adrad Holdings (AHL) CEO Don Cormack on Wednesday afternoon announced his plans to resign, less than six months after the company listed on the ASX.

Mr Cormack had been in the role since 2006 and led the heat transfer solutions company to IPO in September last year, at an issue price of $1.50.

Adrad said Mr Cormack considered that it was the “right time to transition to the next phase of his career”.

Mr Cormack will leave the company on a date to be agreed upon later in the year.

The company said he would stay in the role until a replacement was found and appointed and there had been sufficient time for a transition.

AHL shares were down 5.6 per cent and trading at $1 at market close on Wednesday.