Dinnigan, three Ecoya directors resign after review
"Amazing. Directors reducing cost/size for the good of the company. Good on them."Featured comment
BUSINESSDESK: Ecoya, the scented candle and skin-care products maker, has announced the resignation of directors Collette Dinnigan, Craig Schweighoffer and Deeta Colvin after a decision to clip the size of the board as part of an internal review.
Ecoya's new six-member board, effective immediately, has two independents, Rob Fyfe and Rich Frank, and three executive directors, Geoff Ross, Grant Baker and Stephen Sinclair.
Sarah Gibbs is a non-executive director.
Mr Schweighoffer will stay on as a key senior executive focusing on Ecoya's product range, while Ms Dinnigan and Ms Colvin will remain available for future projects, the company said.
In May, the company made a maiden annual operating profit after sales jumped 58%.
Profit after interest costs but before tax and non-recurring accounting adjustments relating to the Trilogy earnout provisions was $204,000 in the year ended March 31 compared to a $3.6 million loss the previous year.
The shares rose 0.8% to $1.26 and have surged 34% this year.