Perth-based property investor, Aspen Group
(ASX:APZ) is to begin trading again today after appointing a new managing director.
Gavin Hawkins has been appointed to the top role after Angelo Del Borrello resigned.
Last Wednesday the company entered a trading halt in response to media speculation regarding a breakdown in the relationship between the board of directors and the managing director.
After being unable to reconcile his differences with the board, Mr Del Borrello decided to resign from the role of managing director.
According to a report in The Australian, it is unsure yet whether Mr Hawkins, who was the company’s chief financial operator, will take on the role permanently or if this is a temporary decision.
Mr Del Borrello has come under fire recently over his salary package, with 47% of shareholders voting against the company’s remuneration report at its annual general meeting.
Aspen Group booked a $62.86 million loss for the 2009 financial year, following profits the two years previous.
