Class’ CEO to step down
Class Limited’s chief executive and managing director, Andrew Russell, will step down from his role, effective 16 February.
In the announcement made to the Australian Securities Exchange (ASX), the company said that the Class and the HUB24 boards had agreed that as a result of Class now becoming a business unit within HUB24, following the court approval of the acquisition, this would be a “the right time for him to step down”.
At the same time, Russell would remain an adviser to the CEO and managing director, Andrew Alcock, during a transition period.
The company advised that Jason Entwistle, HUB24’s director of strategic development, would be appointed as interim CEO and managing director of Class on implementation of the scheme, reporting to Alcock while a selection process would be undertaken for a permanent replacement.
At HUB24, Entwistle was responsible for the group’s strategy and had worked with the Class team over the past few months to finalise the transaction.
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