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GrowthOps restructures board as directors, including chair Dominique Fisher and CEO Paul Mansfield, resign

The departures include Paul Mansfield (centre) Dominique Fisher (far right)

Trimantium GrowthOps, or TGO the parent company of Singapore-based, ASX listed digital transformation firm Asia Pacific Digital (APD)  has announced the departure of the majority of its directors – chair Dominique Fisher, director Melissa Field, and director and CEO Paul Mansfield – effective immediately, to be replaced by a completely new lineup as part of a restructure the trio allegedly recommended on their departure.

The new board will see Scott Tanner take the role as chair, Clint Cooper become managing director and CEO, Philip Dalidakis, Craig McMenamin and Jessica Hart become non-executive directors and Craig Davies executive director – technology and cybersecurity. They join founder and executive director Phillip Kingston, who will transition to a non-executive director role.

Two weeks ago, GrowthOps posted an update to the Australian Stock Exchange (ASX), reporting that the company had not only lost $65m for the financial year, it had been through nearly $14m in cash and that auditors Deloitte stated ‘significant doubt’ in the business’ ability to ‘continue as a going concern’. GrowthOps only floated on the ASX 18 months ago.

GrowthOps is the parent company for Melbourne creative agency AJF Partnership, among others. Last August, it acquired APD having first made a bid for the firm in June. Shortly after the acquisition, APD CEO Tobias Wilson left the company – he would subsequently join Media Monks.

Fisher, Field and Mansfield joined the GrowthOps board on October 18, 2017. Mansfield was appointed into the CEO role in June 2018, and all three were a part of the business when it completed its IPO in March 2018.

Tanner (left) and Cooper (right) will both be joining the GrowthOps board

“We would like to recognise and thank Dominique, Melissa and Paul for their valuable contributions to the board and the Company’s shareholders and employees. Highlights of their contributions include the IPO, the successful integration of ten businesses, and launching the unique growth services offering into the marketplace,” Tanner said.“We are also grateful to Paul Mansfield for committing to work with Clint to ensure a smooth transition. The retiring directors conclude their tenure at GrowthOps with our sincere appreciation for their leadership and dedication to the Company during its foundation year.”

Tanner joins after a role as chief digital officer and chief operating offer with Westpac’s Consumer Bank division, after six years as chief executive of Bank of Melbourne. He’s the current chairman of Committee for Melbourne and a director with Melbourne Business School. He will continue as managing director of SMT Advisory Services.

Cooper was the founding CEO and director of the Twenty20 Big Bash League club Melbourne Stars and held the roles of CFO and COO with Cricket Victoria.

Dalidakis was a member of the Victorian Parliament from 2014 to 2019 and served as minister of trade and investment, innovation, the digital economy and small business from 2015 to 2018. He is currently executive general manager, corporate services with Australia Post.

Davies is joining to spearhead the business’ new cybersecurity consulting practice which will provide clients with strategic advice and on-demand tactical support, risk identification and mitigation and cybersecurity awareness. He joins with over 25 years experience in technology and cybersecurity.

Hart is the founder and creator of Luma Beauty and has a 20+ year modelling and fashion career.

McMenamin is a chartered accountant with more than 20 years experience as a CFO, most recently working alongside Davies as the CFO of TriSecOps.

“GrowthOps is a credible challenger to traditional creative agencies and consulting firms. It is uniquely equipped to help organisations acquire new customers, launch transformational products, leverage emerging technologies for strategic advantage, and scale operations,” Tanner said.

“I look forward to working with the board and executive management team to support GrowthOps’ continued impact and growth.”

Added Cooper: “It’s a great privilege to lead the organisation into this next phase. I was drawn to the opportunity to work alongside exceptional talent at the forefront of their industry, servicing an extremely impressive client roster. While my career path to GrowthOps may not have been traditional, I feel a great sense of alignment with the company’s DNA and entrepreneurial spirit, which I hope to continue to foster, ensuring that GrowthOps is a great place to work and continues to deliver first-class outcomes for our clients.”

Subject to shareholder approval, an increase in the non-executive director fee pool limit to $450,000 will see Tanner paid $200,000, McMenamin $120,000, Dalidakis $60,000 and Hart $50,000. The four will also be granted options at an exercise price of $0.20 per share.

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