- Booktopia’s (BKG) board gives notice to CEO Tony Nash to step down, following the completion of an internal business review
- The review focussed on the company’s strategy, efficiency, and cost structure
- Whilst the board did consider retaining Mr Nash as Chief Growth Officer, it was ultimately determined to not be in the business’s best interest as it looks to appoint a new CEO
- In the interim, current Chief Financial Officer Geoff Stalley will step up into the role of CEO
- Shares are trading 4.62 per cent lower at 31 cents at market close
Booktopia’s (BKG) board has given notice to CEO Tony Nash to step down, following the completion of an internal business review.
The review focussed on the company’s strategy, efficiency, and cost structure.
Whilst the board did consider retaining Mr Nash as Chief Growth Officer, it was ultimately determined to not be in the business’s best interest as it looks to appoint a new CEO.
As a significant shareholder, he will remain as a Director but will serve his six-month notice period out of the office.
Chairman Chris Beare praised Mr Nash’s efforts and accredited him for building Booktopia from nothing to a $240 million turnover.
In the interim, current Chief Financial Officer Geoff Stalley will step up into the role of CEO.
He will be paid $500,000, including superannuation and will return to his role as Chief Financial Officer once a permanent CEO is found.
Shares were trading 4.62 per cent lower at 31 cents at market close.