Clive Peeters company secretary falls on his sword

By Patrick Avenell

SYDNEY, NSW: Steve Rowarth, the man most famous for alerting the ASX of the Clive Peeters theft scandal, has fallen on his sword, today resigning as the troubled listed company’s joint company secretary.

In a one sentence release to the ASX this afternoon, managing director Greg Smith alerted investors to the resignation, though he offered no explanation for his departure.

Clive Peeters yesterday told Current.com.au that MD Greg Smith has been advised against talking to the media.

During his time at Clive Peeters, Rowarth was most prominent as the spokesperson for the retailer, which was placed in administration last Wednesday (19 May 2010), when conveying information to the ASX. During this time, he has requested trading halts, announced $20 million cash shortfalls, an investigation into internal theft, and trading irregularities.

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