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Joyce Corporation’s (ASX:JYC) Keith Smith to step down from CEO role
  • Joyce Corporation's (JYC) CEO Keith Smith has indicated that he intends to step down from the role once a replacement has been found
  • Mr Smith began serving as interim CEO in July 2019, and in March this year he was appointed to the role permanently
  • Chair Mike Gurry thanked him for his contributions and work in facilitating the sale of Lloyds Online Auctions
  • Joyce Corporation shares closed 5.5 per cent lower at $1.12

Joyce Corporation's (JYC) CEO Keith Smith has indicated that he intends to step down from the role once a replacement has been found.

Mr Smith served as acting CEO from July 1 2019 and in March this year was appointed to the role permanently.

During his time at the helm, he oversaw the sale of Joyce Corporation's interest in Lloyds Online Auctions which the company bought in 2016.

Joyce initially sold a 10 per cent interest in Lloyds to a trust for the local management team for about $1.4 million in March. Later in June, it sold its remaining 46 per cent interest to Jacqst Enterprises for $3.8 million.

Chair Mike Gurry thanked Mr Smith for his contributions to the business and work facilitating the sale of Lloyds.

“Keith’s early advice of his intentions to the Board is appreciated. It gives us the opportunity to organise a seamless transition to a new CEO."

"In the time Keith has been with us he has made significant improvements to our operations and was instrumental in negotiating the sale of Lloyds. I am sure we will miss Keith’s energy and ability to deliver strategic change.”

Joyce Corporation shares closed 5.5 per cent lower at $1.12.


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