ASX-listed media intelligence company Isentia has announced the resignation of its CEO and managing director John Croll.
In a statement to shareholders, Isentia said Croll has given six months’ notice so that an orderly transition can occur, and the board is going to undertake a global search for his replacement immediately.
“After almost 20 years as CEO, I believe it is time for a change,” Croll said in a statement.
“I have been incredibly privileged to lead the talented and dedicated team at Isentia. Over the next six months, I will continue to focus on implementing strategic initiatives that will improve the performance of our media intelligence business.”
Isentia chairman Doug Snedden said: “The board recognises the significant contribution John has made to establishing Isentia as the market leader in media intelligence in the Asia-Pacific region.
“John will continue to lead the company with the support and assistance of the board until a successor is appointed. We appreciate John’s ongoing commitment to Isentia as the notice period will ensure a smooth transition to a new CEO.”
Croll’s resignation coincides with Isentia’s half-yearly results, which showed an 11 per cent dive on overall revenue to $70.8 million.
The company’s media intelligence division saw revenue fall 7.1 per cent overall revenue to $67 million, with its Australian and Kiwi arm suffering an 11 per cent decline.
Isentia’s underlying net profit dropped a whopping 79 per cent to 2.6 million in the six months to 31 December 2017 (compared to the previous corresponding period).
Expenses before interest, taxes, depreciation and amortisation was at $11.9 million, with media intelligence EBITDA at $15.7 million (down 30.3 per cent).
Isentia’s exit from the King Content marketing business last year saw an after-tax loss of $11.9 million.
Croll said the first half of FY18 has been a “challenging six months”, noted that the company’s value proposition remains strong.
“The exit from content marketing allows us to focus on improving the profitability of our media intelligence business,” he said.
“The cash flow generation of our subscription model was once again evident this half as operating cash flow increased and net debt was reduced.”
This International Women’s Day, CARE Australia will celebrate women as global change-makers amid increasingly frequent conflicts and climate-related crises, with Ashleigh Streeter-Jones, Natalie Kyriacou OAM, and Justine Cullen spearheading the initiative as ambassadors. Lead image: Ashleigh Streeter-Jones In its third consecutive year, the ambassadors will champion CARE Australia’s Her Circle initiative, which recognises that: when […]
Warner Brothers Discovery’s Newshub is set to close its doors in June 2024, leaving up to 300 staff, including high-profile presenters Mike McRoberts and Samantha Hayes, out of a job. In a statement today, Warner Bros. Discovery said it had started consultation on a “proposed remodelling and restructure of its ANZ free-to-air business in New […]
Australian Turf Club invites racing lovers across Australia to Expect It All with the launch of the latest creative campaign to highlight the racing on offer in Sydney at Rosehill Gardens and Royal Randwick. The campaign, which will officially launch ahead of this year’s Sydney Autumn Racing Carnival, highlights the wide range of incredible experiences […]
Something insane swept to New Zealand as finals approached last year. “Wahs Mania” took hold, and hope was ignited in the hearts of Kiwis who mostly didn’t usually care about League. Sadly, the Warriors didn’t make it through to the grand final, but the clubs following saw a massive increase nonetheless. Welcome back to B&T’s Spotlight […]
Avid Collective has officially announced the appointment of former Scout Publishing and Junkee Media executive Niki Jones (lead image) as its new head of enablement operations. In the newly created role, Jones will be responsible for overseeing operational activities across various arms of business with a focus on partner engagement. “Niki’s appointment comes at an […]