Geo Limited has announced several governance and management changes, effective from September 30, 2023.
Rod Snodgrass, the Independent Non-Executive Chair, will retire from the Board.
CEO Tim Molloy will be appointed as Executive Chair, and Chief Revenue Officer Scott Player will be appointed as CEO.
The company has also implemented a cost reduction program, with directors being remunerated entirely in equity for the next twelve months.
Additionally, Tim Molloy will move to three days a week, and both Scott and Tim will take 20% of their remuneration in equity, subject to shareholder approval.
Geo is launching a strategic review to determine investor interest in a potential sale, which could result in a transaction or restructuring of the company.
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