SYDNEY, AUSTRALIA: HighCom Limited (ASX:HCL), a leading provider of armour and technology solutions, announced today that Mr. Scott Basham has stepped down as Group CEO, effective immediately. The Board thanked Mr. Basham for his role in transforming the business since 2021, according to company news.
The Company’s operations will be led by the divisional heads: Ms. Sally Nordeen, CEO of HighCom Armour, and Mr. Vince Creagh, CEO of HighCom Technology. The group leadership team will also include CFO Jacqui Myers and acting-COO Brigadier (Ret’d) Todd Ashurst. All of them will report to Mr. Mark Stevens, who has assumed the Group’s leadership as Executive Chairman.
Mr. Stevens will not receive any additional remuneration or enter into any contractual arrangements for his new role at this stage. The Board may review this in the future and update the market accordingly.
As previously announced, the Board has initiated a company-wide review to return the Company to profitability and position it for future growth. The Board will continue to identify improvement initiatives and update the market with the HY report in late February.
Mr. Stevens commented: “I would like to personally thank Scott for his contribution to HighCom as Group CEO, and I wish him all the best for the future. With the support of the Board, I believe that the executive leadership team is highly competent, appropriately structured and capable of achieving the Board’s immediate aim to right-size the cost base and deliver improved revenue and bottom-line performance that will provide the foundation for the next phase of our growth. I am ready and committed to leading and supporting the Company in meeting its goals.”