Great decision by the board, and probably good for all that Robert Read is stepping down........he was probably a decent CEO for a small software company based in Oz, but with the US so critical to the business, they need someone who is a little more aggressive and also connected in the US to really drive the business.
Having said that, the board still need to ensure the new CEO will focus on pushing for the business to be cashflow positive, and then profitable in the next 12-18 mths......rising interest rates and inflation is going to make it much harder for software companies to raise capital if they continue to burn money
Ann: Planned CEO transition to support US growth opportunities, page-2
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