Powerwrap’s interim managing director and board director Chris Brant is stepping down from the platform provider prematurely ahead of the planned January commencement of new chief executive, William Davidson.
Powerwrap announced today that Brant would step down effective immediately and that the platform provider’s board would oversee company operations until Davidson’s commencement in the New Year.
Company chair Matthew Driscoll said Powerwrap were appreciative of Brant’s contributions to the company, where he served as a board member for two and a half years, and held the position of interim managing director for 12 months.
“He has driven substantial improvements in the company’s business operations and service delivery, including a management restructure, IT developments and process efficiencies,” Driscoll said.
Upon the October announcement of Davidson’s appointment, Money Management reported Powerwrap’s confirmation of Brant’s assistance in the transition process, and his intention to remain with Powerwrap in his capacity as a non-executive director.
The platform provider had also previously announced a successful $19.4 million capital raising in June, at which time Driscoll said the company would look to restructure and expand its board and organisational structure.