- Logistics company, Orcoda has appointed a new Managing Director and acting CFO in Geoffrey Jamieson
- This is a role reversal for Geoffrey, who since 2018 has been serving the company as CFO and acting Managing Director
- Geoffrey played a key part in bringing about Orcoda’s people transport business and profits of over $600,000 for the second half of the 2019 financial year
- Orcoda shares closed 2.12 per cent in the green today, worth 24 cents each
Orcoda has appointed, Geoffrey Jamieson as its new Managing Director and acting Chief Financial Officer (CFO).
This comes as a role reversal for Geoffrey, who has up until this point been serving the company as fully-instated CFO but acting Managing Director since 2018.
Orcoda focusses its logistics solution on three main sectors: health care, transport, and resources. According to the company, Geoffrey has so far been a key player in designing the company’s people transport services, which are licences out at $100,000 each.
The Orcoda vehicles involved in this service are being rolled out across medical practices, retirement villages, RSL clubs, and other not-for-profit organisations in Queensland.
In line with this, Orcoda has attributed a big part in its $633,000 profit for the second half of the 2019 financial year to Geoffrey.
The company will fork out a healthy $325,000 plus GST in remuneration for Geoffrey for a three year term, with some incentives to sweeten the deal.
Should the company reach an earnings before interest, tax, depreciation and amortisation (EBITDA) of over $3.5 million for any year while Geoffrey is at the head, he’s entitled to a five per cent cut of these earnings. Orcoda management says this incentive is structured to support share price growth.
Geoffrey said he is committed to growing Orcoda’s people transport business into a major enterprise in the healthcare sector.
“Our technology platform is best in class and to my knowledge is the only platform available that does what is required to be successful in this very large marketplace,” Geoffrey said.
“Our commercial operators agree that our service is unique and desperately needed for their patients, residents, members or clients with limited availability of transport services of their choice,” he said.
Orcoda shares closed 2.12 per cent in the green today, worth 24 cents each in a $25.51 million market cap.