Wynyard chair Murray Horn resigns for health reasons

Monday 23 May 2016 08:53 AM

Wynyard chair Murray Horn resigns for health reasons

By Paul McBeth

May 23 (BusinessDesk) - Wynyard Group chairman Murray Horn has resigned from the board as he scales back his workload citing health concerns.

Horn, who was previously a Treasury secretary and head of ANZ Banking Group's local arm, stepped down as a director of the intelligence software developer effective from today, the Auckland-based company said in a statement. Director Guy Haddleton will assume the chair, while Susan Patterson won't seek re-election at next month's annual meeting.

"Wynyard has taken a huge amount of time and energy in the lead-up to the rights issue earlier this year and subsequently as we started to implement the learnings from that period," Horn said. "Medical advice sought over the last few weeks is that I should not try and continue to work at the same full pace and need to consider reducing the range of roles I undertake."

Wynyard raised $30 million in a deeply discounted rights offer in March when plans to raise funds from foreign investors at a higher price were scuttled by the slump in global equity markets at the start of the year.

The boardroom shuffle comes after Wynyard reorganised its management structure, aligning sales and marketing and product development with its two service lines - advanced crime analytics and investigations case management for government clients, and advanced cyber threat analytics and risk management software for commercial customers - and the exit of chief financial officer Murray Page.

Wynyard shares last traded at 69 cents and have sunk 62 percent this year.

(BusinessDesk)

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