ANTHONY Ritter, the CEO and Executive Director of ASX-listed activities provider Experience Co, has resigned from his roles with immediate effect, and is being replaced on an interim basis by Non-Executive Chairman Bob East.
The shock news was revealed as part of a trading update from the company this morning, which confirmed softer trading in Far North Queensland and a downgrade in earnings guidance.
The company is now expecting pre-tax earnings of $30m-$33m for the year to 30 Jun 2019, versus previous expectations of $37m-$41m.
Founder and MD Anthony Boucat will step down as an Executive Director of the company when a new CEO is appointed, but will remain on the board as a Non-Executive Director.
Other appointments include a new CFO, Owen Kemp, and Ian Douglas, formerly Director of Corporate Finance with RSM.
East said “ensuring we have the right senior executive team remains a key strategic priority,” with a process underway to recruit a suitable CEO.
Source: traveldaily