John Croll, the chief executive of media monitoring company Isentia Group, is stepping down.

The announcement came at the same time the company posted a $4 million loss for the December half-year  compared to a profit of $18,740,000 in the same six months last year.

Revenue was down 11 per cent to $70.8 million.

The company has been hit by falling revenue in its media intelligence, customer churn, price erosion and reduced press and broadcast clipping volumes.

The market-leading Australian media monitoring group last year wrote down by $37.8 million the value of its troubled content marketing business, King Content — and started shedding staff.

Mr Croll, who has been running the company for almost 20 years and has 3 per cent of its shares, has given six months notice.

“I believe it is time for a change,” he says.

Isentia Group shares (ASX:ISD) since listing in 2014.
Isentia Group shares (ASX:ISD) since listing in 2014.

“I have been incredibly privileged to lead the talented and dedicated team at Isentia.

“Over the next six months I will continue to focus on implementing strategic initiatives that will improve the performance of our media intelligence business.”

Doug Snedden, Isentia’s Chairman, said: “The Board recognises the significant contribution John has made to establishing Isentia as the market leader in media intelligence in the Asia Pacific region.”

iSentia shares last traded at $1.21 compared to a 12-month high of $2.33.

The company, founded in 1982 by Sydney advertising pioneer Neville Jeffress, was listed by private equity firm Quadranton on the ASX in June 2014 at $2.04 a share.

 

This article first appeared on Business Insider Australia, Australia’s most popular business news website. Read the original article. Follow Business Insider on Facebook or Twitter.

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