Atomos (ASX:AMS) - Departing CEO, Estelle McGechie
Departing CEO, Estelle McGechie
Source: Atomos
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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.

AMS by the numbers
More From The Market Herald
Flexiroam (ASX:FRX) - CEO, Marc Barnett

" Flexiroam (ASX:FRX) drives growth in FY22

Mobile data provider Flexiroam (ASX:FRX) has announced its financial results for the 12 months ending March…

" Kingsgate Consolidated (ASX:KCN) appoints CR3 to restart Chatree gold mine

Kingsgate Consolidated (ASX:KCN) has progressed activities for the restart of the Chatree gold mine in Thailand…
Green Technology Metals (ASX:GT1) - CEO, Luke Cox

" Green Technology Metals (ASX:GT1) receives final drilling results from Seymour

Green Technology Metals (ASX:GT1) has received the final assays from the phase one diamond drilling program…

" Arafura Resources (ASX:ARU) signs MoU with Hyundai

Arafura Resources (ASX:ARU) has signed a memorandum of understanding with South Korean automotive manufacturer Hyundai Motor…