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.
Tim Burrowes founded Mumbrella in 2008. He worked on Mumbrella until 2021. At various points he was editor, content director and editor-at-large.
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