SelfWealth (ASX:SWF) share price flat despite new CEO

The SelfWealth Ltd (ASX: SWF) share price is flat today after the company announced a new CEO and board restructure. Here's the lowdown.

Aaron Teboneras

Author bio Aaron Teboneras is an ASX investment writer with a background in business, marketing and finance. He has been a contributor to The Motley Fool since 2020, covering market news, company announcements, broker views and financial results. Aaron’s previous notable appointments include National Australia Bank, and Computershare where he discovered his passion for the Australian sharemarket. Aaron has been investing for almost 20 years, using both fundamental and technical analysis to find opportunities. Aaron completed a Technical Analysis course with Mint Analysis in 2022 and is currently studying Training and Assessment. Outside the market, he has travelled to more than 45 countries and enjoys trekking, meeting new people and seeing different parts of the world. Areas of expertise ASX growth shares Founder-led companies Company announcements and financial results Fundamental and technical analysis Education Bachelor of Business from RMIT University Social media LinkedIn Instagram Favorite investment quote “If you don't find a way to make money while you sleep, you will work until you die.” — Warren Buffett

Published March 29, 2021 10:54 am AEDT

The SelfWealth Ltd (ASX: SWF) share price is failing to respond today after the company announced a new CEO and board restructure. At the time of writing, the online brokerage company's shares are swapping hands for 60.5 cents.

asx share price fall represented by woman shrugging — Image source: Getty Images

About the new CEO

Investors appear unfazed by the company's latest update, leaving the SelfWealth share price unchanged in morning trade.

According to this morning's release, SelfWealth has appointed Cath Whitaker as its new CEO, effective 20 April 2021.

The company highlighted that Ms Whitaker has more than 20 years of experience in global financial services. In her most recent role, Ms Whitaker held the position of global leader of digital transformation at Marsh Inc. This saw Ms Whitaker oversee the development and implementation of Marsh's digital and data strategy for risk management and corporate divisions.

Marsh Inc. is a wholly-owned subsidiary of international professional services firm, Marsh McLennan Companies Inc (NYSE: MMC). The parent company was founded in 1871 and is headquartered in New York. The group has an annual revenue turnover of $17 billion.

SelfWealth selected Ms Whitaker to lead its next growth phrase, after a successful 24 months. The company is focused on delivering ongoing product innovation, and digital best practices.

SelfWealth managing director Rob Edgley commented:

Our current team, together with founder and former CEO Andrew Ward, have done a fantastic job in building a fast-growing business with a trusted brand, an engaged community of traders and an innovative product offering.

We are delighted to welcome Cath as the new CEO of SelfWealth. Her impressive track record in implementing global digital transformation programs is completely aligned with the growth strategy of SelfWealth.

SelfWealth share price summary

Over the past 12 months, the SelfWealth share price has gained over 500%, and is up around 7% year to date.

On valuation grounds, SelfWealth commands a market capitalisation of roughly $124.2 million, with 205.3 million shares outstanding.

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