The share price of Gentrack Group Ltd (ASX: GTK) dropped just over 9% today after the software company announced that its chief executive officer would be leaving.
The company announced today that Ian Black will be standing down from his position as CEO. John Clifford will assume the role of Executive Chairman until a new chief executive officer can be appointed. Within the market release, Gentrack said that the Board thanks Ian for his contribution to Gentrack and wishes him well for his future endeavours.
Gentrack's Board has started to search for the next CEO and has engaged Odgers Berndtson, a global executive search firm, to carry out a comprehensive process and the board will evaluate internal and external candidates.
Over the past year the company has suffered a series of setbacks, largely due to Brexit, which has sent the share price lower by almost 60%.
