Praemium has announced its chief executive and board member, Michael Ohanessian, will be leaving the firm after almost a decade in the role effective immediately.
In an announcement to the Australian Securities Exchange (ASX) the firm said non-executive director, Anthony Wamsteker, had immediately stepped into the interim CEO role.
Praemium said Wamsteker would be paid a monthly fee of $50,000 for immediately assuming the role of executive director and interim CEO.
The board had also appointed Deloitte Corporate Finance to undertake a strategic review of Praemium’s international business.
The firm’s chair, Barry Lewin, said: “During his tenure, Michael has built a solid and profitable foundation at Praemium. He leaves the business having positioned Praemium for continued strong growth, both in Australia and overseas”.