- Advanced Braking Technology (ABV) CEO John Annand steps down by mutual agreement
- Mr Annand joined the company as CFO in mid-2018 and was appointed CEO later that year
- An executive search to appoint a suitable replacement has commenced
- ABV Director of Strategy and Commercial Andrew Booth will assume the role of Acting Chief Executive Officer during the search and transition period
- Shares in ABV were 8 per cent lower, trading at 3.4 cents
Advanced Braking Technology (ABV) Chief Executive Officer John Annand has stepped down by mutual agreement.
Mr Annand joined the company as Chief Financial Officer in mid-2018 and was appointed Chief Executive Officer later that year.
ABV Chair Dagmar Parsons thanked Mr Annand for his contributions and said an executive search had commenced to appoint a suitable replacement.
“The Board and management remain focused on maximising revenue generation in the current environment, developing and assessing future growth opportunities, both organic and inorganic, and increasing value for our shareholders,” she said.
The role will be based at the company’s head office in Wangara, Western Australia,
ABV Director of Strategy and Commercial Andrew Booth will assume the role of Acting Chief Executive Officer during the search and transition period.
The company says further information regarding the executive search progress will be provided in due course.
Shares in ABV were 8 per cent lower, trading at 3.4 cents at 1100 AEDT.