- Atomos (AMS) has terminated the tenure of its CEO Estelle McGechie because she has not moved to Australia
- The video equipment manufacturer said that it has always indicated that it requires its CEO to be based in Melbourne
- In the meantime, while the company finds a new CEO, Trevor Elbourne has been appointed interim CEO
- Mr Elbourne has been Atomos’ Chief Technology Officer for the last six years and is one of its founding employees, having joined in 2012
- Atomos shares dropped 14.4 per cent and trading at 77 cents per share
Video technology specialist Atomos (AMS) shares have dropped today following a change in leadership.
The company announced its current CEO Estelle McGechie will no longer be in the role as she has not yet relocated to Australia. Atomos said it has always required its CEO to be based in Melbourne.
While the company finds a new CEO, Trevor Elbourne has been appointed interim CEO.
Mr Elbourne has been Atomos’ Chief Technology Officer for the last six years and is one of its founding employees, having joined in 2012.
Atomos has reconfirmed its FY22 guidance for revenue of over $95 million and an earnings before interest, taxes, depreciation, and amortisation margins of between 12 and 15 per cent.
Non-Executive Chair Chris Tait thanked Ms McGechie for her efforts.
“On behalf of the board I wish her the best in her future endeavours,” he said.
“Trevor is a logical and highly capable appointment as interim CEO given his intimate knowledge of the products and technology that have made Atomos one of the global leaders in video technology today.
“As the company embarks on an exciting expansion of our product line-up, the board is confident Trevor will bring his deep experience in technology innovation to ensure our products continue to meet the changing needs of our growing customer base.”
On the market, Atomos shares fallen 14.4 per cent and trading at 77 cents per share at 11:49 am AEST.