Speculation over Photon Group chairman Tim Hughes’ future role

Tim Hughes, executive chairman of the troubled Photon Group which has been suspended from the ASX for approaching three weeks, may leave the company, the Sydney Morning Herald has hinted.  

Photon owns some of Australia’s best known agencies including Naked, Bellamy Hayden, BMF and BWM.

The SMH reported:

The Mercedes-driving Photon Group executive chairman Tim Hughes looks set for a bad day in the office. The marketing firm was softening up the market yesterday for a potential rights issue of up to $200 million, priced at about a quarter of its last traded price of $1.02.

The paper added: “Hughes is yet to signal whether he plans to leave the company or at least take on a non-executive role.”


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