Diligent hires new CFO
Strong performance expected from new CFO.
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Hawke’s Bay
Governance software developer Diligent Corp [NZX: DIL] has appointed Michael Stanton chief financial officer as it recovers from a string of errors in filing its financial statements.
Mr Stanton was previously senior vice-president of finance and treasurer at software-as-a-service education technology provider Blackboard and has almost 20 years experience in similar roles.
He has taken over from interim CFO and corporate controller Alex Sanchez, who will continue as vice-president and chief accounting officer, the New Zealand listed company says.
New York-based Diligent's strong operating performance has been undermined by a slew of administrative errors forcing it to refile financial statements dating back several years.
CFO Carl Blandino helped the company through the period of restating its accounts, and then handed over to Mr Sanchez who held the role until a permanent replacement was appointed. Mr Stanton will report to Diligent president and chief executive Brian Stafford.
"Michael's long-term experience in scaling a SaaS business. combined with his proven track record of maximising shareholder value. will be a tremendous asset to Diligent as we drive to the next level of growth," Mr Stafford says.
Diligent shares rose 1% to $5 and have slipped 5.9% so far this year.
(BusinessDesk)
Tina Morrison
Wed, 09 Sep 2015
Wed, 09 Sep 2015
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Diligent hires new CFO
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