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Nuix CFO terminated, CEO to retire
Listed tech company Nuix has announced that it has terminated its chief financial officer, Stephen Doyle, and that its chief executive, Rod Vawdrey, will be retiring.
Jerome Doraisamy
Both announcements were made to the ASX on Tuesday, 15 June and follow reports of investor backlash and possible class actions amid news that both Nuix, and financial backer Macquarie Group, have been asked by ASIC to retain relevant documentation dating back to 2018 as part of an investigation into the floating of the tech company.
Chad Barton – who was most recently CFO of The Star Entertainment Group – has been named interim CFO of Nuix.
Speaking about the interim appointment, Nuix CEO Rod Vawdrey said he was delighted that Mr Barton was joining the company.
“Chad brings deep capital market relationships and a strong understanding of financial reporting and systems. He will lead a committed and highly capable team of finance professionals,” he said.
He also thanked Mr Doyle for his “significant contribution” to the tech company: “We thank Stephen for his many years of service to Nuix and wish him the best for the future.”
Mr Vawdrey is also leaving the company, having given notice of his decision to retire. He will continue in his role while an international search is conducted for a new CEO “to lead Nuix on the next phase of its journey and to allow for an orderly leadership transition”, the ASX statement proclaimed.
He said: “It has been an honour and a privilege to have led this amazing Australian software company over the last five plus years. After four decades in the technology sector, to be able to use that experience to scale Nuix to become a truly global company, completes my career ambitions.
“It has not been an easy decision to retire, but I believe now is an appropriate time to implement a succession plan to ensure the company has the right leader to take Nuix into its next phase of growth.”
Nuix chair, the Honourable Jeff Bleich, added: “Rod’s decision reflects his deep commitment to Nuix and love for the company. Rod has agreed to remain at least through the announcement of end of year results, and throughout the process required to find the right replacement to ensure the smoothest possible transition.
“Nuix is a great company with world leading technology, an extraordinary portfolio of clients, and an incredibly passionate and committed team of employees. We are confident that the pool of candidates will be a deep one and the Board is very focused on attracting the right individual to take on the role.
“The board looks forward to honouring Rod’s achievements at an appropriate time in the future and we are pleased that he will continue to lead and deliver for the company during this interim period.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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