Compass MD quits as Director

29 September, 2010 by TheShout

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.

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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.

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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.

 

 

 

 

 

 

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