Photon CEO Bailey resigns

Photon chief executive, Matt Bailey, has resigned from his role after six years.  

It follows the board’s decision to relocate the role to Sydney on a full time basis.

Bailey will leave the marketing services group when his contract expires on June 30.

Tim Hughes, Photon executive chairman, said: “Matt has been the CEO and a director of Photon for the last six years. He has done a terrific job and he will leave the company with a well established senior management group in place. We wish Matt well as he takes some time out with his family in Melbourne.”

Following the announcement, Photon’s shares dropped slightly from $1.47 to $1.44, valuing the company at $270m. Photon’s shares peaked in late 2007 at just under $7.

An executive search firm has been brought in to oversee the search for Bailey’s replacement.

The Photon group of companies includes Naked Communications, BWM and Bellamyhayden.


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