Ousted Praemium chief executive, Michael Ohanessian has been reappointed to the role.
Ohanessian’s reappointment was announced to the Australian Securities Exchange (ASX) today and was the inevitable corollary of last week’s decision by shareholders to replace the incumbent board.
The ASX announcement said Ohanessian’s appointment had been made under an interim agreement, reflecting his previous commercial terms as Praemium CEO except for a reduction in the notice period to 30 days.
It said the interim agreement was to allow the new board sufficient time to review the CEO’s employment conditions once it had had an opportunity to convene, and to consider whether the terms and conditions were appropriate and in line with the market.
The ASX announcement said the services of Preamium’s acting chief executive, Robert De Luca, had been concluded today.
