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Vortive (ASX:VOR) - Chairman, Gary Foster - The Market Herald
Chairman, Gary Foster
Source: Vortiv
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  • Chief Executive Officer and Managing Director of Vortiv (VOR), Jeffrey Lai, has resigned, effective from January 22, 2021
  • Technology company Vortiv invest and collaborate with businesses offering commercialised solutions in the digital, cybersecurity, analytics and cloud services sector
  • Jeffrey Lai will remain as a non-executive director for a period following his resignation to assist the company where required
  • Howard Digby will be filling the role of Executive Chairman from 15 January 2021, receiving a salary of $120,000 per annum
  • Vortiv is trading flat at 18.0 cents

Chief Executive Officer and Managing Director of Vortiv (VOR), Jeffrey Lai, has resigned.

Technology company Vortiv invests and collaborates with businesses offering commercialised solutions in the digital, cybersecurity, analytics and cloud services sector.

The role change will take effect from January 22, 2021, with Jeffrey Lai remaining as a non-executive director for a period following his resignation at CEO, to assist the company where required.

Jeffrey Lai has held the role of CEO for the past four years, where the company says he delivered significant gains from investing, growing and subsequently divesting the cybersecurity business, steering the company towards three years of positive operating cash flow and earnings before interest and taxes (EBIT) growth.

Howard Digby will fill the role of Executive Chairman from January 15, 2021, receiving a salary of $120,000 per annum.

He has thirty years of experience in the technology sector, and will draw on his successful technology-related deals and global network to assist Vortiv with identifying and evaluating new business opportunities.

“Mr Lai has provided considerable value to the company and in more recent times, was integral in delivering the divestment of Vortiv’s cyber assets for an earnings multiple well above the market average,” said Howard Digby.

Vortiv is trading flat at 18.0 cents at 10:24 am AEDT.

VOR by the numbers
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