Smartgroup Corporation (ASX:SIQ) CEO to retire

Smartgroup Corporation (ASX:SIQ) CEO Deven Billimoria to retire at the end of February 2020.

 Mr Billimoria has been with the organisation for more than 19 years and began his role as CEO in 2002.

Chief Financial Officer, Tim Looi will be appointed to Chief Executive Officer and Smartgroup has commenced a search process for a new Chief Financial Officer.

Earlier in the year, Smartgroup’s shares fell to a 52 week low after Mr Billimoria offloaded a significant number of shares for personal reasons, receiving a total of $8.36 million for the sale.

Shares in Smartgroup Corporation (ASX:SIQ) are trading 15.4 per cent lower at $9.30.

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Source: Finance News Network