This article is from the Australian Property Journal archive
ABC Learning Centres has ousted Eddy Groves and his wife Le Neve Groves from the company.
The Groves will immediately leave all management and board positions.
Rowan Webb, the former managing director of Brisbane based retailer Colorado Group, has been appointed interim CEO.
A search for a permanent CEO will commence immediately.
Peter Trimble, the newly appointed CFO, will assume his responsibilities once the 2008 financial accounts are finalised. Matthew Horton, general counsel and company secretary will join the board on an interim basis.
The departure will conclude the 20 year relationship the Groves have had with ABC Learning Centres.
Meanwhile the company has failed to lodge its accounts for the 2008 financial year amidst growing concern over its accounting practices.
ABC shares have been in a trading halt for over a month.
The company was due to lodge its report yesterday, but have once again delayed the release until next month, citing accounting reasons.
“The outstanding issues are consistent with previous announcements.
“The company is working to conclude the final outstanding matters as soon as possible,” ABC said in a second statement.
Australian Property Journal
