MDS Financial Exec Changes
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23 January 2013
Board Resignation and Appointment of Chairman
MDS Financial Group Ltd (ASX: MWS, “the Group”) announced to the Australian Securities Exchange that Mr. Sean Rothsey has resigned his position as Chairman of the Board and as a Director of the listed company and all of its subsidiaries, effective on 23 January 2013.
The Board has elected Mr. Wayne Johnson, previously Deputy Chairman and Executive Director, as the Group’s new Chairman.
Mr. Rothsey has been a director of the Company since September 2007 and Chairman since February 2008, undertaking a number of roles over his six-year tenure. This involvement with the Company has seen theexpansion of a data and software business to a full-service corporate advisory and capital markets specialist with clients in Australia and the Asia-Pacific region.
As Chairman, Mr. Rothsey oversaw the acquisition of Trader Dealer Online Pty Ltd in 2008, the 2011 acquisition of ASX participant D2MX Pty Ltd, the acquisition of specifi c assets of Minc Financial Services Pty Ltd (In Liquidation) and the successful integration of these into the Group. Mr. Johnson said that whilst Mr. Rothsey had relinquished his Director positions with the Group, “he remains connected to the Company as a substantial shareholder and will continue to be interested in the developments of the Group, its staff and stakeholders”.
Mr. Johnson said Mr. Rothsey’s contribution to streamlining the Company and diversifying revenue streams through diffi cult market conditions and changing compliance regimes has left the Group in a strong position for growth, with an effi cient and expandable platform.
“We are disappointed to see Sean relinquish his position at this time as the Group moves to further its market share from the solid foundation he has overseen for the Group. We fully respect his decision, which is predicated on his desire for both superior corporate governance and leadership that he feels he cannot provide with his prolonged overseas absences”, Mr Johnson said. “Sean has our best wishes for his future endeavors and we look forward to our continued association as we leverage off his efforts in Asia.”