Booktopia (ASX:BKG) - outgoing CEO, Tony Nash
outgoing CEO, Tony Nash
Source: Tony Nash/LinkedIn
Market Herald logo

Subscribe

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

BKG by the numbers
More From The Market Herald
The Market Herald Video

" Woomera Mining (ASX:WML) appoints Jason Livingstone as new Managing Director

Mineral explorer Woomera Mining (ASX:WML) has appointed Jason Livingstone as its new Managing Director, effective from…
The Market Herald Video

" Security Matters (ASX:SMX) enters into $2m standby equity facility

Security Matters (ASX:SMX) has entered into a standby equity deed with Evolution Capital.
The Market Herald Video

" Ora Gold (ASX:OAU) obtains unsecured $500k loan facility

Ora Gold (ASX:OAU) has obtained an unsecured $500,000 loan facility from Ioma to assist with general…
Baby Bunting (ASX:BBN) - Chair and Non Executive Director, Melanie Wilson

" Baby Bunting (ASX:BBN) surpasses $500m sales for the first time

Baby goods retailer Baby Bunting (ASX:BBN) surpasses half a billion dollars in sales for the first…