GrowthOps restructures board as majority of directors, including chair Dominique Fisher and CEO Paul Mansfield, resign
Trimantium GrowthOps, or TGO, has announced the departure of the majority of its directors – chair Dominique Fisher, director Melissa Field, and director and CEO Paul Mansfield – effective immediately, to be replaced by a completely new lineup as part of a restructure the trio allegedly recommended on their departure.
The new board will see Scott Tanner take the role as chair, Clint Cooper become managing director and CEO, Philip Dalidakis, Craig McMenamin and Jessica Hart become non-executive directors and Craig Davies executive director – technology and cybersecurity. They join founder and executive director Phillip Kingston, who will transition to a non-executive director role.
The departures include Paul Mansfield (centre) Dominique Fisher (far right)
Two weeks ago, GrowthOps posted an update to the Australian Stock Exchange (ASX), reporting that the company had not only lost $65m for the financial year, it had been through nearly $14m in cash and that auditors Deloitte stated ‘significant doubt’ in the business’ ability to ‘continue as a going concern’.
GrowthOps owns Melbourne creative agency AJF Partnership, among others. The business only floated on the ASX 18 months ago.
Fisher, Field and Mansfield joined the GrowthOps board on October 18, 2017. Mansfield was appointed into the CEO role in June 2018, and all three were a part of the business when it completed its IPO in March 2018.
“We would like to recognise and thank Dominique, Melissa and Paul for their valuable contributions to the board and the Company’s shareholders and employees. Highlights of their contributions include the IPO, the successful integration of ten businesses, and launching the unique growth services offering into the marketplace,” Tanner said.
“We are also grateful to Paul Mansfield for committing to work with Clint to ensure a smooth transition. The retiring directors conclude their tenure at GrowthOps with our sincere appreciation for their leadership and dedication to the Company during its foundation year.”
Tanner joins after a role as chief digital officer and chief operating offer with Westpac’s Consumer Bank division, after six years as chief executive of Bank of Melbourne. He’s the current chairman of Committee for Melbourne and a director with Melbourne Business School. He will continue as managing director of SMT Advisory Services.
Tanner (left) and Cooper (right) will both be joining the GrowthOps board
Cooper was the founding CEO and director of the Twenty20 Big Bash League club Melbourne Stars and held the roles of CFO and COO with Cricket Victoria.
Dalidakis was a member of the Victorian Parliament from 2014 to 2019 and served as minister of trade and investment, innovation, the digital economy and small business from 2015 to 2018. He is currently executive general manager, corporate services with Australia Post.
Davies is joining to spearhead the business’ new cybersecurity consulting practice which will provide clients with strategic advice and on-demand tactical support, risk identification and mitigation and cybersecurity awareness. He joins with over 25 years experience in technology and cybersecurity.
Hart is the founder and creator of Luma Beauty and has a 20+ year modelling and fashion career.
McMenamin is a chartered accountant with more than 20 years experience as a CFO, most recently working alongside Davies as the CFO of TriSecOps.
“GrowthOps is a credible challenger to traditional creative agencies and consulting firms. It is uniquely equipped to help organisations acquire new customers, launch transformational products, leverage emerging technologies for strategic advantage, and scale operations,” Tanner said.
“I look forward to working with the board and executive management team to support GrowthOps’ continued impact and growth.”
Added Cooper: “It’s a great privilege to lead the organisation into this next phase. I was drawn to the opportunity to work alongside exceptional talent at the forefront of their industry, servicing an extremely impressive client roster. While my career path to GrowthOps may not have been traditional, I feel a great sense of alignment with the company’s DNA and entrepreneurial spirit, which I hope to continue to foster, ensuring that GrowthOps is a great place to work and continues to deliver first-class outcomes for our clients.”
Subject to shareholder approval, an increase in the non-executive director fee pool limit to $450,000 will see Tanner paid $200,000, McMenamin $120,000, Dalidakis $60,000 and Hart $50,000. The four will also be granted options at an exercise price of $0.20 per share.
topics
Clint Cooper
Craig McMenamin
Dominique Fisher
GrowthOps
Jessica Hart
Melissa Field
Paul Mansfield
Philip Dalidakis
Phillip Kingston
pureprofile
Scott Tanner
TGO
Trimantium
Trimantium Growthops
GrowthOps is the parent company of Pureprofile? Have you told the ASX this?
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Hi Cynical observer,
Thank you for your comment. In all the excitement, I did indeed make a mistake, this has been rectified.
Thanks,
Hannah [Mumbrella]
It’s TGO. So what are the chances of the new directors being connected to the old directors?
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let’s see a wave of redundancies coming about soon!
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What this company needed was a swimsuit model to be appointed a non executive director. That’ll fix it.
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For all the changes, they still have an impressive client list
Lend Lease
Officeworks
Holden
Bupa
Tencent
According to http://cansultant.growthops.co.....growthops/
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GrowthOops
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So Phillip Kingston is now a non-executive (ie independent) director? I see….
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Surely there’s got to be not enough money to keep this organisation float…is there anyone having a look at the books to see how long this would last??
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Yea-Lendlease is about gone, lost to Atomic of all agencies. Another smoke on mirrors debacle.
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I bet the mums and dads who invested at $1 must be thrilled with the new board being so effusive in their gratitude for the amazing work done by Dom Fisher and Phillip Kingston to get TGO to where it is today.
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GrowthFlops
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Could be the secured lender is pulling the strings by planting a friendly, hold on to your hats!
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Phillip Kingston and Dominique Fisher for PM and Deputy PM. TGO’s new directors couldn’t speak more highly of them. Now if we could only get Kingston and Fisher to do for Australia what they did for TGO!
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Roll ups never work in marketing communications in Australia:
– Issues and Images
– Photon (Enero)
– And now this!
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I’d forgotten about Issues & Images – thanks!
There was also Blue Freeway.
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Can anyone help with an answer?
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As a wise old hand once said, ‘best to treat your first payout as your only payout!’
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If I was these guys, I’d spending less time writing Press Releases and more time finding growth opportunities for my business, my people and my clients.
Frankly, other then AJF, I haven’t heard of any of these companies or people. It’s all quite strange and not going that well apparently.
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Wonder if they’ll go through a rebrand to get rid of the negativity that is GrowthOps haha
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It’s a shame. At its core, there was something of a strategic insight behind the failed execution.
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company running out of money- but lets increase board fees?.
yep that will help the company! well done Phillip.
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wonder how the moral is on the ground…surely people would be feeling a little bit worried about job security
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As Victorian Minister for Small Business Dalidakis appointed Kingston and Fisher to LauchVic Advisory Board.
Fisher is a Board member of Australia Post.
Dalidakis joins Australia Post in July 2019.
Fisher resigns from TGO Board in October 2019.
Dalidakis joins TGO Board in October 2019.
Kingston resigns from TGO Board and assumes non-executive director role.
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https://www.arnnet.com.au/article/663289/new-cyber-security-player-trisecops-opens-business/
2018…
A new cyber security partner called TriSecOps has officially launched operations across Australia and Asia Pacific under the leadership of CEO Craig Davies.
Founded in 2018 by Davies and Phillip Kingston, the company will receive backing and investment from Trimantium Capital.
Davies will also act as an executive director on the TriSecOps board and will be joined by CFO and executive director Craig McMenamin and non-executive director Philip Dalidakis.
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I can verify, it is a rocky culture.
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The trend of investor-backed shipwreck agencies needs to end. As marketers some of us actually care about our work and its embarrassing to be employed by these greedy business hacks who jump from one investment high to the next, leaving a wake of pissed off clients, redundancies and offshore teams being laid off via email. (Sadly, I have now worked for two companies that have done this). And all of this is for a select few people, hiding behind an investment firm, to make a quick buck. On the same note, clients should really do their research. Think of it as buying ethical clothing, think about who is on the other end, pumping out your content and designs.
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They can’t execute marketing campaigns-but they are going into the dark world of cyber security. That’ll surely be a grand success. Off to cash my check from a Nigerian prince I met via email this morning, cheerio.
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I sniff redundancies and a sale coming…
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I’ve read more truthful statements in the Herald Sun.
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I’m sure Scott Tanner must be thrilled to see his name mentioned in the same breath as Phillip Kingston in Margin Call’s ‘Sargon Saga’ story in today’s Australian.
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Down to 15c.
A new low.
Market cap now just $21m.
And to think a week ago Scott Tanner had to thank Dominique Fisher and Paul Mansfield for their …..wait for it…….valuable contributions to shareholders and employees!
Heaven knows what he would’ve said if the share price had increased.
Either someone has to buy it [good luck with that one], make a play to buy out AJF, or ….. maybe invite Dominique Fisher and Phillip Kingston back to make some more of their very special and valuable contributions to shareholders and employees.
Scott, get out whilst you can and take AJF with you.
The rest is beneath you.
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clearly obvious that the retainer they had with GrowthOps has been diminishing…just one of many legacy APD clients that have been going
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Back to 17c
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gone up to 19 cents now!
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And so it happens…almost 40 redundancies just happened today!
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Shrink Oops
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