Urbanise (ASX:UBX)
Source: Urbanise
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  • Urbanise.com (UBN) has announced its CEO and executive director, Saurabh Jain will no longer continue in these roles
  • The company’s chief financial officer (CFO), Simon Lee, has been appointed interim CEO with immediate effect and will continue his duties as CFO
  • The company says over the past three years, Urbanise has experienced significant revenue growth over many achievements
  • However, despite these promising pipeline and sales conversions, Urbanise says the board recognises the revenue growth has not accelerated as quickly as anticipated
  • Urbanise.com shares last traded at $1.14 on December 14

Urbanise.com (UBN) has announced its CEO and executive director, Saurabh Jain, will no longer continue in these roles.

The company’s chief financial officer (CFO), Simon Lee, has been appointed interim CEO with immediate effect and will continue his duties as CFO.

Simon will be supported by the board and a management team with extensive experience in sales, development and customer support.

The company says over the past three years, Urbanise has experienced significant revenue growth over many achievements including completion of a strata portfolio for the largest strata manager in Australia, PICA, securing multiple facilities management contracts in the Middle East and continued production across its cloud-based SaaS platforms.

However, despite these promising pipeline and sales conversions, Urbanise says the board recognises the revenue growth has not accelerated as quickly as anticipated.

Urbanise’s chairman, Almero Strauss, says the company remains confident in the large market opportunity.

“The Board is reviewing Urbanise’s sales processes to ensure the conversion strategies are robust to deliver expected growth,” he said.

“We are working closely with the newly appointed Chief Revenue Officer, Paul Mitchell, and his team to refine our go-to-market strategies and ultimately, bring strong discipline to converting opportunities. As we review and improve our growth strategies, we will continue to update the market on our progress.

“On behalf of the Board, we would like to thank Saurabh for his service to the business over the past three years in his role as CEO, and prior during his tenure as Chief Commercial Officer. We wish him all the best in his future endeavours.”

A search for a replacement CEO will begin shortly.

Urbanise.com shares last traded at $1.14 on December 14.

UBN by the numbers
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