Total
0
Shares
Credit Intelligence (ASX:CI1) - Managing Director & CEO, Jimmie Wong
Managing Director & CEO, Jimmie Wong
Sourced: Credit Intelligence
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Hong Kong insolvency manager Credit Intelligence (CI1) has once again changed up its corporate personnel
  • Director and Chairman Anthony Ho is stepping down after just under two years at the company
  • He is replaced by Credit Intelligence founder, CEO and Managing Director Jimmie Wong
  • Meanwhile, recently appointed director Mark Paton is also resigning as a director
  • However, Credit Intelligence has brought Brett Crowley and Michael Pixley aboard as non-executive directors
  • While the company provided ample information on its new executive hires, it’s failed to hint at why its other team members are walking out the door
  • The board reshuffle is especially confusing in light of CI1’s recent announcement, which saw it predict a 420 per cent increase in its FY20 profit compared to last financial year
  • Nevertheless, Credit Intelligence shares actually closed green on Tuesday — up an even five per cent to trade for 3.2 cents per share

Hong Kong insolvency manager Credit Intelligence (CI1) has once again changed up its corporate personnel.

Director and Chairman Anthony Ho is stepping down after just under two years at the company. He is replaced by Credit Intelligence founder, CEO and Managing Director Jimmie Wong.

From today, Jimmie will step into the revised role of Executive Chairman. It is unclear if he will simultaneously continue with his other duties.

Additionally, two new non-executive directors are joining the CI1 team.

Brett Crowley is a solicitor who’s rubbed shoulders at Ernst & Young as a partner in Hong Kong and Australia. He’s also a Chairman at ASX-listed consumer goods manufacturer Jatenergy. Brett has served other listed companies as a company secretary over the years, and is also a Senior Legal Member of New South Wales’ Civil and Administrative Tribunal.

Michael Pixley has served for over 35 years as a merchant banker across Australia and Asia. He’s also a non-exec director at the ASX-listed Eve Investments and Resfreshgroup. On top of that, Michael is a founding director of Story-I, a listed Apple technology reseller.

He’s also a West Aussie who’s earned a degree in business management from Curtin University.

Just another board reshuffle

It’s not the first time this year the company has changed up its board. In February, CI1 brought Sydney banker Mark Paton aboard to help grow the company’s Australian and New Zealand offering. On the same day Mark was appointed to the board, director Mel Ashton resigned from the company.

However, after just over two months as a Credit Intelligence director, Mark has also stepped down today.

It’s unclear what’s caused the mass board kerfuffle — especially as Credit Intelligence predicted a 420 per cent increase in its FY20 profit compared to last financial year.

While Credit Intelligence has provided lots of information about its new hires, it’s left much unsaid about the people leaving the executive team. The lack of explanation as to why significant personnel are back out the revolving door may leave shareholders scratching their heads.

Nevertheless, Credit Intelligence shares actually closed green on Tuesday — up an even five per cent to trade for 3.2 cents per share.

CI1 by the numbers
More From The Market Herald
Cirralto (ASX:CRO) - Managing Director, Adrian Floate

" Cirralto (ASX:CRO) brings in $400k worth of receipts over Q1

Cirralto (CRO) has released its latest quarterly financial update, revealing it ended September with just under $400,000 in customer receipts.
Wisr (ASX:WZR) - CEO, Anthony Nantes

" Wisr (ASX:WZR) adds $123m in originations to loan book

Wisr (WZR) has added another $123 million in originations to its loan book during the recently completed September quarter.
Humm Group (ASX:HUM) - CEO, Rebecca James

" hummgroup (ASX:HUM) 1Q22 business update

hummgroup (HUM) is trading in the green following the company’s business update for the first quarter of the 2022 financial year.
Laybuy (ASX:LBY) - Managing Director, Gary Rohloff

" Laybuy Group (ASX:LBY) signs new £30 million loan

Laybuy Group (LBY) has signed a new £30 million (A$55.3 million) debt facility with US specialist lenders Partners for Growth.