Thursday, 1 November 2007

ANH completes management shake-up

As I noted last week it would seem rather unusual if Robert Edge stayed on as CEO of Ansearch (ANH) given that the two directors, Ridge and Grigg, that pushed so hard for his appointment had been ousted. Today we learn that Edge has decided to resign. The ASX announcement stated that:

Mr Edge was engaged by the Company earlier this year to review and restructure the business processes in order to establish a robust platform to support the Company’s future growth. Given this process is now complete and new business processes have been successfully implemented, Mr Edge has decided to resign as CEO to pursue other interests.

Sounds all rather congenial, however given that neither Jones nor Jermyn wanted him there for obvious reasons I'd say he didn't have much choice in the matter.

The purge of dead wood and dodgy characters at Ansearch is good news for shareholders. All that remains is a the appointment of a capable individual to the CEO role. I'll be posting a more in depth analysis of ANH in the near future.