Redundancies as GrowthOps announces restructure to enter ‘next stage’

Trimantium GrowthOps, or TGO, has announced a round of redundancies as it restructures its business in a ‘natural evolution’.

The number of redundancies hasn’t been confirmed, but Mumbrella understands more than 30 jobs have been cut.

GrowthOps has gone through multiple changes in 2019

A GrowthOps spokesperson confirmed the changes, following a ‘review of the business’.

“The new GrowthOps board and CEO have recently undertaken a review of the business and agreed the next stage of the company’s strategy,” said the spokesperson.

“It reaffirms the company’s purpose – to reinvent how organisations grow – and puts our clients at the heart of our strategy. It’s a natural evolution following the integration work completed over the last 20 months.”

The changes come as the majority of company’s directors left the business last month. Dominique Fisher, Melissa Field and Paul Mansfield all exited the business together, recommending a review of the model on their departure.

Seemingly, that is what has happened, with a spokesperson confirming two divisions have been established following the review.

“To enable the delivery of our strategy, we have restructured the organisation resulting in the establishment of two divisions – Australia & New Zealand and Asia, in addition to the removal of some roles that do not directly service clients,” said the spokesperson.

Jason Polson has been appointed as the CEO – ANZ, while Chee Hung Goon will continue to lead Asia as CEO – Asia.”

Both Polson and Goon will report to managing director and chief executive officer Clint Cooper, who was appointed after the board departures.

Polson has been with GrowthOps since April when he joined from Clemenger BBDO Melbourne where he was a managing partner. He was named group director of creative and also managing director of AJF Partnership, which was acquired by GrowthOps in 2017.

Goon has worked at Leo Burnett and, and was Malaysia CEO for Asia Pacific Digital when it was acquired by GrowthOps in 2018. He has been group director, Asia for GrowthOps since.

GrowthOps’ August reporting to the Australian Stock Exchange (ASX) showed that the company has posted a $65m loss, after a $13m loss for FY18. Shares have plummeted in the business since it floated on the ASX in 2018, valued at $143m. As of today, shares had fallen a further 6.67%, sitting at $0.14. Shares peaked at around $1.35 in April 2018.


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