Cellnet announced on Friday that CEO, Stephen Harrison, has tendered his resignation as the head of the company.
Harrison returned as CEO of the company 15 months ago to assist in the re-structure and re-organisation of the company, he will still remain within the company as a non-executive director.
Chairman Sandy Beard stated that “Stephen has played a key role in changing the Cellnet operations and business model resulting in the company being in a much improved position.”
“The board is grateful to Stephen for returning at a difficult time and appreciates the considerable effort he has put in over the past 15 months,” Beard continued.
Harrison will be replaced by the current chief financial officer, Stuart Smith, who has been with the company since February 2008.
Smith is a chartered accountant and previous senior appointments include chief financial officer for AAPT Mobile.
Beard claims that Smith was crucial, along with Harrison, in the driving changes that Cellnet required.
“The restructuring of the operations is proceeding to plan and Stuart will be focusing on ensuring the company returns to a profitable position,” said Beard.