Evolve Education appoints Mark Finlay as chief executive
By Sophie Boot
Nov. 1 (BusinessDesk) - Evolve Education has appointed interim chief executive Mark Finlay to the top role, effectively immediately.
Finlay, a former director and founder and managing director of the Lollipops Educare Group, has been interim CEO since August this year following the resignation of Alan Wham, who left after the early childhood education centre operator warned annual profit would fall as much as 12 percent in the current year.
Chair Alistair Ryan said Finlay has proven abilities in the early childhood education sector, having built a strong franchise with Lollipops Educare. The Evolve board undertook a thorough search process with an external recruitment firm, and Finlay emerged as the best candidate, he said.
"Mark's expertise, energy, and operational effectiveness will be especially beneficial to getting Evolve back on track, to restore momentum in the business, and to recover lost ground," Ryan said in a statement. "His deep operational experience and strong understanding of the sector mean he is extremely well placed to lead the company."
Evolve has been expanding its ECE centre portfolio and now has 126 across the nation, up from just 65 when the company listed in late 2015, raising $132.3 million at $1 a share.
The stock has plunged 25 percent since the profit warning, but rose 1.3 percent to 76 cents today.