The iSentia merry-go-round continues as it gains a chief and loses a CFO
Link copied to
It seems iSentia can’t cut a break: it’s just announced a new CEO five months after the last one quit. only to have the CFO leave.
Managing director and chief John Croll quit in February but gave a six months notice period.
The business intelligence analyst (ASX:ISD) announced on Friday it had finally found a replacement CEO, pinching Yahoo7’s CEO Ed Harrison.
iSentia says it only took them three months to find their new boss but chairman Doug Sneddon, who joined in November, had to step up in May to run the business as it was still without a leader.
Mr Harrison is an expensive hire, however.
He’s being paid $676,000 a year in cash and gets another 676,000 in performance rights subject to various milestones.
On the same day it unveiled the new chief, the company had to issue the unfortunate news that its chief financial officer James Orlando was resigning after only a year in the gig.
He’s not leaving until iSentia finds his replacement, though.
iSentia had to kill its ambition to get into content marketing last year after its $48 acquisition of King Content turned sour.
They wrote it down by $39.4 million and said in October it would exit the business.
Retiring chairman Doug Flynn told shareholders at the time that King Content was the wrong cultural fit for iSentia.
iSentia has been contacted for comment.
The shares were up slightly at 71c on Friday morning — a long way from their one-year high of $2.33.