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Infomedia Announces Senior Management and Board Changes

By August 20, 2015December 9th, 20162015, ASX Announcements

Thursday, 20 August 2015 – Sydney – The Chairman of Infomedia Ltd (ASX:IFM) Fran Hernon today announced the resignation of Chief Executive Officer (CEO) Andrew Pattinson and the retirement of long-serving non-executive director Myer Herszberg. Mr Bart Vogel will be appointed to fill the casual vacancy created by Mr Herszberg’s retirement.

Mr Pattinson’s resignation as CEO is effective at the close of business Friday August 21.

Ms Hernon said Mr Pattinson has agreed to lead a series of important projects over the next six months.

“Andrew has worked tirelessly for the good of Infomedia during his 27-year career at the Company and in his time as CEO has positioned the Company for future growth,” she said.

“The Board wishes to thank Andrew for his dedication and hard work throughout his many years at Infomedia.”

The Company confirms that Mr Pattinson will be paid his contractual entitlements arising from his resignation. In addition to his statutory entitlements to accrued leave, he will receive a payment of $328,531 (less tax) comprising a severance payment equal in value to 12 months of his fixed remuneration averaged over three years. Mr Pattinson has 250,000 options which will vest on September 27, 2015. He will receive no other payments in connection with the end of his employment.

The Company will undertake an international search for a new CEO, with both internal and external candidates under consideration. Whilst the search is underway, Chief Financial Officer Russel King will oversee the day to day operations of the Company, reporting directly to the Chairman.

Retirement of Founding Non-Executive Director Myer Herszberg

The Company also announced today that long-serving non-executive director Myer Herszberg, will formally retire from the Board effective August 31.Myer has been involved with Infomedia for over 23 years and is one of the original founding directors.

“It has been very rewarding to have played a role in contributing to Infomedia’s success over such a long period of time and I look forward to watching the business develop and grow into the future,” Mr Herszberg said.

“Myer has played a significant role in Infomedia’s success over the years,” Ms Hernon said. “The Board and the entire Infomedia team deeply appreciates and thanks him for his contribution and wishes him well in his retirement.”

Appointment of Mr Bart Vogel as Independent Non-Executive Director

Mr Bart Vogel has been appointed to fill the casual vacancy caused by Mr Herszberg’s retirement. Bart brings extensive commercial experience to Infomedia from a range of sectors including Telecommunications, IT and Business Services.

Bart is currently a Non-Executive Director of Macquarie Telecom Group Limited(ASX:MAQ) and Sedgman Limited (ASX:SDM). Bart is also a Director of the Children’s Cancer Institute Australia. He is a Fellow of the Institute of Chartered Accountants in Australia and a Member of The Australian Institute of Company Directors.

Commenting on Bart’s appointment, Ms Hernon said: “On behalf of the Board of Infomedia I am delighted to welcome Bart to the board. His wealth of experience in the IT and Telecommunications industry in combination with his exposure to the Asia-Pacific region and strategic consulting skills will be a great addition to our board capability as we continue to grow Infomedia’s global presence. Bart brings a new range of skills and experience to the board and we are looking forward to working with him.”