- Donaco International (DNA) has appointed two new non-executive directors, Mel Ashton and Simon Vertullo
- Mel will take on the role of Chairman for Donaco. The appointment will begin immediately
- On market close, Donaco remains steady and is selling shares for 8.7¢ apiece.
Donaco International (DNA) has appointed two new non-executive directors, Mel Ashton and Simon Vertullo.
Mel will take on the role of Chairman for Donaco. The appointment will begin immediately.
Donaco is a leisure and entertainment business across the Asia Pacific region. Its largest business is the Star Vegas Resort & Club, a successful casino and hotel complex in Poipet, Cambodia.
Simon is an experienced chartered accountant with broad financial, transactional, and operational expertise. He has previously worked with large companies throughout Australia, Asia and the United Kindom.
"He has experience in senior finance executive roles with a focus on managing performance, risk and turnarounds and has previously worked with the leading restructuring practices of KordaMentha and KPMG," the company told the market.
Mel is a listed company director with over 37 years of experience across the hospitality, property, banking and finance, and mining and resources sectors.
He has experience in senior leadership experience in restructuring and insolvency having worked with KPMH and as one of the founding partners of PPB.
Currently, Mel is a non-executive director of Aurora Lab and is formerly the non-executive Chairman of Gryphon Metals Limited and a member of the Fremantle Football Club Board.
"The Board of Donaco is focused on supporting the management team, transitioning to a new chief executive over the coming six months and on resolving distractions that have hampered the Company’s performance in recent times," Mel said.
"With strong turnaround credentials on the newly constituted Board, the directors are aligned in our focus on stabilising the company and delivering for shareholders," he added
Mel also said he and the fellow directors and will also look for opportunities to strengthen the Board further with additional industry expertise.
On market close, Donaco remains steady and is selling shares for 8.7¢ apiece.