Media monitor Isentia has lost its chief executive John Croll
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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.
“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.