SCEE founder Frank Tomasi to retire

Company News

by Rachael Jones

The Board of Southern Cross Electrical Engineering (ASX:SXE) founder and non-executive director Frank Tomasi AM, intends to retire from the Board at the Company’s AGM at the end of this month.

Mr Tomasi yesterday disposed of some of his shares reducing his ultimate beneficial holding in the company from 27.9 per cent to 20.0 per cent.

He has indicated to the Board his current intention not to undertake further dealings with his remaining shareholdings for the time being.

The composition of the Board will be reviewed in due course.

Southern Cross Electrical Engineering (ASX:SXE) are 0.71 per cent lower at $0.70.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.