Compass MD quits as Director
By Andrew Starke
The Compass Hotel Group has announced that Robert Garton Smith has resigned as a director of the WA pub owner after a year in the job but will continue in his role as managing director.
Garton Smith and chairperson Anne Thoume joined the listed hotel group’s board of directors in September last year in what was always an interim measure to ensure stability after a turbulent 2009.
In March this year Compass Hotel Group appointed Chris Brockwell to its board of directors while also announcing a small profit for the six months to December 27, 2009.
Earlier this month the company reported a net loss of $18.3 million for the 2010 financial year, compared to a loss of $99.2 million last year.
In a statement to the Australian Stock Exchange, Compass chairman Roland Hill said Garton Smith’s resignation was effective from September 23.
“On behalf of the CXH Board, I wish to express our thanks to Robert and acknowledge his contribution as ‘interim’ director during a challenging transition period for the company,” he said.
Compass shares were trading at 1.7 cents 1.30pm today (Sep 29), down from 2 cents seven days ago.