Tourism Holdings (thl) has announced a series of executive and general people changes as part of its cost reduction plan.
The chief financial officer and chief people and transformation officer roles have been combined, resulting in the appointment of Ollie Farnsworth to the newly created position.
Cameron Mathewson, the current chief financial officer, will be leaving the company at the end of the year.
In addition, thl has reduced its manufacturing workforce in Australia by around 100 roles, primarily in production, due to the closure of its Melbourne sub-assembly plant and adjustments in production planning.
The company also announced the reduction of several support office roles in the USA as part of its North American synergy project and cost reduction plan.
These changes are expected to generate a full-year run rate saving of over $500,000.
Thl remains focused on its growth plans and ongoing cost reductions, with a target of $12 million in net profit after tax cost savings by the 2027 financial year.
See more
