The chief of a listed managed accounts platform has announced his immediate departure from the business.
In a statement, Praemium said chief executive Michael Ohanessian would leave the company after almost 10 years in the role.
“On behalf of the board, we are appreciative to Michael for his hard work and wish him well in his future endeavours,” Praemium chair Barry Lewin said.
“During his tenure, Michael has built a solid and profitable foundation at Praemium. He leaves the business having positioned Praemium for continued strong growth, both in Australia and overseas.”
The company said non-executive director Anthony Wamsteker would immediately step in as interim CEO.
“The board has full confidence in Anthony and the wider senior management team to take the company forward and new leadership will allow the company to take advantage of favourable market conditions, including industry consolidation,” Praemium said.
Mr Ohanessian had previously been terminated as chief of the company in 2017, before convincing the Praemium’s shareholders to remove its then board and reappoint himself and a new series of directors.
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