What chance for recovery?

  1. 7,397 Posts.

    A once favourite telco much out of it now ,
    Can new managment bring a change about,??

    Any followers left with an opinion please

    Last report to ASX ______________________________________________CChange of Directors


    HOMEX - Melbourne

    Pracom's Chairman, Mr John Grigg announced today the appointment of 2
    new non-executive directors in Rex Wood-Ward and Darryl Phillips and
    the resignation of Michael Wilton from his role as non-executive

    Rex Wood-Ward has over 30 years of international experience in
    general management, mergers and acquisitions, corporate strategy and
    structuring, and has been a director of several public companies on
    three continents. Rex remains non-executive Chairman of Corporate
    Express Australia Limited having led its IPO on the ASX in 1995.
    Additionally, Rex is also a non-executive director of two other ASX
    listed companies, Lighting Corporation Limited and Skydome Holdings
    Limited. Rex's focus will be on strategic financial matters within
    the company.

    Darryl Phillips brings to the company his 40-year track record in
    innovation, general business management, fund management as well as
    marketing and communications. He has founded, developed and managed
    successful companies and groups in South Africa, the United Kingdom
    and Australia in the investment, advertising, marketing and software

    Darryl has been Chairman, CEO and a director of several exceptionally
    successful privately held companies as well as fulfilling these same
    responsibilities on behalf of a London Stock Exchange listed company.
    With his extensive strategic planning, marketing and communications
    experience Darryl will assist in the development of lateral solutions
    to enable the realisation of new and existing opportunities and

    "Rex and Darryl have been closely involved over the last 12 months in
    the company's strategic review and will bring a level of involvement
    and skills that will greatly assist Pracom as it reshapes the
    business for the future", said Mr Grigg. "I would also like to
    acknowledge the contribution of Michael Wilton in steering the
    company on corporate issues through the original listing and then
    adding significant value on a broad range of issues including
    corporate governance over the last 4 years."

    The Pracom Board will now consist of John Grigg as Chairman, David
    Paranthoiene as Managing Director, Bruce Carter as Executive Director
    with Terry Winters, Rex Wood-Ward and Darryl Phillips as
    Non-executive Directors.

    For further information, please contact David Paranthoiene - 03 9677

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