Vocation Limited
(ASX:VET)says Chairman John Dawkins has resigned and will be replaced by Doug Halley, current chairman of DUET Group
(ASX:DUE).
Mr Dawkins, a former federal Labor minister, will remain with the company as a consultant and said, “My decision to resign stems from my sincere interest in Vocation’s success”. Mr Dawkings added that he took into account shareholder views that the company needs to rebuild the support of its shareholders and instigate board renewal.
The company share price took a beating after Vocation finally ‘fessed up that one of its key subsidiaries had lost $20 million in government funding.
Incoming Chairman Doug Halley has been an independent director of a number of ASX listed companies and previously held senior management positions with major companies including IBM, Goodman Fielder and Fairfax Media.
Vocation reported a maiden profit of $8.3 million for the financial year ending 30th June 2014.
