- Dental company Smiles Inclusive (SIL) says Tony McCormack has stepped down from his role as Chief Executive Officer
- The company’s current Deputy CEO, Michelle Aquilina, has taken on the top position
- Michelle was only appointed as deputy CEO just three weeks ago
- The change comes just one week after Smiles Inclusive announced it would stand down the majority of its workforce, as well as its board, senior management and executive staff
- The company also said the Federal Government’s JobKeeper payment could be the only remuneration available to corporate staff for the foreseeable future
- In her new role, Michelle will oversee the company’s recovery plan for the post-COVID-19 environment
- Smiles Inclusive’s shares last traded for 3.5 cents per share in late February
- The company expects its stock will be released from escrow on April 27
Dental company Smiles Inclusive (SIL) has announced that Tony McCormack has stepped down from his role as Chief Executive Officer.
The company’s Chairman, David Usazs, expressed gratitude to Tony for his service as Smiles Inclusive’s leader.
“Tony agreed to help the business at a difficult time, inheriting an exceptionally difficult set of circumstances and a very hostile environment,” David said.
“His leadership, knowledge, skills, unwavering diligence, and hard work have resolved many significant issues and contributed to improvements in the company’s systems and processes. They also enabled a better understanding of the elements needed for the sustainable success of the Smiles business model,” he continued.
The company has appointed its current Deputy CEO, Michelle Aquilina, to fill the position left vacant by Tony. In addition, Smiles Inclusive has also appointed Michelle as a Managing Director of the company and its subsidiaries.
Michelle was only appointed as deputy CEO just three weeks ago.
Additionally, the change comes just one week after Smiles Inclusive announced it would stand down the majority of its workforce, as well as its board, senior management and executive staff.
The company also said the Federal Government’s JobKeeper payment could be the only remuneration available to corporate staff for the foreseeable future.
Smiles says its cash flow at this time is “critical,” and it would begin chasing up payments for dental commissions as it urgently seeks financial support.
Of the new appointment, Smiles says Michelle has extensive strategic, operational, and financial business experience spanning over 30 years. David welcomed her to her new role, in which she will oversee the company’s recovery from COVID-19.
“We are very fortunate to have an extremely able candidate to fill the role of Chief Executive Officer and Managing Director in Michelle Aquilina. Michelle’s appointment is the next phase in the recovery of the business. Notwithstanding the challenges that the current COVID-19 crisis represents for the business, the company is taking this opportunity to undertake a recovery plan for the post COVID-19 environment. This will reset the organisation’s strategic growth plan,” David explained.
Smiles Inclusive’s shares last traded for 3.5 cents per share in late February. The company expects its stock will be released from escrow on April 27.