MyState has announced its chief financial officer Paul Viney will be leaving the group on April 30, with a replacement yet to be announced.
John Gilbert, managing director of MyState, told InvestorDaily it is an “amicable change”.
“There are no fundamental reasons; he’s taken the opportunity to do other things with his life, so he’s let us know he wants to do that and he’s given us until April 30,” Mr Gilbert said.
“We agreed that was a reasonable time for him and a reasonable time for the company to find a replacement.”
Mr Gilbert said the move was not totally unexpected, and that he and Mr Viney have been discussing the possibility for “some time”.
Moves to replace Mr Viney have begun, according to a statement to the Australian Securities Exchange. Mr Gilbert said he is hopeful a replacement can be announced prior to Mr Viney’s departure; however, a decision has not yet been made.
“We’re not close to announcing, we’re talking to some candidates,” he said. “I wouldn’t want to give a timeframe [as] it needs to go through due process – the sooner the better from my point of view. We want to get on with the job, but we also need to make sure we’ve got the right person.”
Mr Gilbert said Mr Viney was integral to MyState’s acquisition of The Rock. The merger is currently going “according to plan”, he added.
“He has transformed systems and processes within the group’s finance area, helped to build strong corporate capability in mergers and acquisitions, and he leaves the business in very good shape for the future,” Mr Gilbert said.
Mr Viney said that with the company in solid shape, “I feel I am able to pursue other opportunities and challenges”.
“MyState Limited has produced very strong results under John’s leadership and I am proud of my contribution in driving growth for all stakeholders helping to increase market capitalisation of the company to some $385 million,” Mr Viney said.
