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Praemium terminates chief executive

Platform provider Praemium has terminated the employment of chief executive Michael Ohanessian.

The board of Praemium announced this morning to the ASX that it has fired chief executive and managing director Michael Ohanessian.

In a statement, the board of Praemium said it believed a chief executive with a "different skill set would better serve the company's leadership needs in the next phase of its growth and development".

"Michael leaves the company in good shape and the board acknowledges his instrumental role in the transformation of Praemium to a profitable global firm," said the statement.

Greg Camm will act as executive chairman of the company until a new chief executive is appointed.

"The board has engaged Egon Zehnder to conduct a global search process to identify a successor and will advise the market of an appointment in due course," said Praemium.

"The board notes the company's positive interim result announced 13 February 2017 and re-iterates its stated confidence in the company's outlook for the second half."



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