ASPEN Group has extended Hugh Martin's job as interim CEO, to enable the company to complete its strategic review.
Chairman Frank Zipfinger said Martin has agreed to continue as interim CEO at least until 30 June 2013.
“Hugh has been leading Aspen since August. He was instrumental in successfully executing the $101.4 million entitlement offer and negotiating a position with key stakeholders to enable the group to finalise its strategic review.
“The role for Hugh was always intended to be a transitional one, initially up to the date of this AGM. However, given the upheaval that the group has gone through, and the goard’s determination to maximise value for securityholders, provide support to the management team and maintain the momentum of the value accretive initiatives already underway.
“The strategic review undertaken by the board has been critical in identifying the path forward for the group and commencing the task of restoring the confidence of securityholders,” Zipfinger said.
“Going forward Hugh has a clear mandate to simplify the business with a focus on maximising value for all securityholders,” he added.
Meanwhile the board intends to appoint Guy Farrands as a non executive director.
At the same time Terry Budge has advised he will not seek re-election.
Property Review