Praemium terminates CEO, Michael Ohanessian
Financial services technology provider, Praemium Limited, has terminated its chief executive, Michael Ohanessian.
The company announced the move to the Australian Securities Exchange (ASX) this morning declaring it had “terminated the employment” of Ohanessian as chief executive and managing director.
It said the board believed a CEO with a different skill set would better serve the company’s leadership needs for the next phase of its growth and development.
The ASX announcement said Greg Camm would act as executive chairman until a new CEO was appointed.
It said Ohanessian left the company in good shape and the board acknowledged his instrumental role in the transformation of Praemium to a profitable global firm.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
