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Swift Media (ASX:SW1)
Source: Swift Media
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  • Swift Media (SW1) CEO Pippa Leary steps down into the role of Non-Executive Director
  • Current Executive Director and Chief Financial Officer, Brian Mangano, will fill the position following Pippa Leary’s announcement
  • Pippa Leary said the decision follows the company’s pivot toward mining during the COVID-19 pandemic, which now requires a WA-based Chief Executive Officer
  • Brian Mangano’s new role comes with a base salary of $356,000 per annum plus superannuation, and sign on incentives of up to two million Swift shares exercisable at five cents each
  • Swift Media last traded at 2.2 cents on September 16

Entertainment provider Swift Media (SW1) has seen its CEO, Pippa Leary, step down into the role of Non-Executive Director.

Current Executive Director and Chief Financial Officer, Brian Mangano will fill the position following the announcement.

Pippa Leary said following a pivot toward mining during the COVID-19 pandemic, divested non-core parts of the business and increased concentration of resources in Western Australia, it makes sense for Swift to now have a WA-based Chief Executive Officer.

However, Ms Leary noted her presence on the east coast of Australia will assist with the company’s expansion into aged care and retirement living, as well as its ongoing relationships with the east-coast investment community.

Brian Mangano’s new role comes with a base salary of $356,000 per annum plus superannuation, and sign on incentives of up to two million Swift shares, exercisable at five cents each.

Mr Mangano said he feels fortunate to step into the new role at an exciting time for Swift.

“Even before taking on the Director and CFO roles, I have followed Swift’s journey closely and have been a shareholder for a number of years,” said Brian Mangano.

“As a result of the work completed over the past two years by Pippa and the team, the fundamentals of the Swift business are strong.”

“With a strengthened balance sheet, neutral cashflow and a next-generation product being introduced into the market, Swift is on the cusp of robust growth.”

The company says its next step will be taking Swift Access to market to increase share in Mining and Aged Care, while pursuing growth in Government and Retirement Living sectors.

Swift Media last traded at 2.2 cents on September 16.

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