K2Fly (ASX:K2F) shuffles executive board

• K2fly (K2F) reshuffles its board following CEO Brian Miller stepping down from his role
• Following a request for a reduction of hours from September 1, Brian Miller will step into the role of Executive Director, focussing on capital markets and new acquisitions  
• Chief Commercial Officer Nic Pollock will step into the role of Chief Executive Officer  
• The company says it also intends to hire a Chief Financial Officer, with the recruitment process already underway
• K2Fly was down 1.72 per cent, trading at 28.5 cents at 12:40 pm AEST

K2fly (K2F) has reshuffled its board following its CEO stepping down from his role.

Brian Miller has requested a reduction of hours from September 1, resulting in his resignation from the role as Chief Executive Officer. He will, however, remain as a director of K2fly and assist in a leadership transition to the new successor.

In his new role as Executive Director, Brian Miller will receive a fixed remuneration of $220,000 per annum on a four-day per week basis. His responsibilities will include new acquisitions and capital markets, as well as K2F’s consulting business.

K2fly has used this as an opportunity to reconsider its executive structure, with current Chief Commercial Officer Nic Pollock stepping into the role of CEO.

Before joining K2fly, Mr Pollock held a variety of high-level management positions, including Global Director of Solutions and member of the Executive Committee at Snowden Mining, founder of Resource Governance International and CEO of Decimal.

The appointment comes with a fixed remuneration of $323,568 per annum and superannuation, plus an additional retention payment of $60,000 and potential incentive payments totalling another $213,555 based on performance metrics. The total remuneration for Mr Pollock has been capped at $600,000.

The company also intends to hire a Chief Financial Officer, with the recruitment process already underway.

K2fly was down 1.72 per cent, trading at 28.5 cents at 12:40 pm AEST.