Trouble-hit platform tech firm Bravura has changed its chief executive officer Libby Roy with immediate effect.
Roy, who was relieved of her CEO duties, will remain with the company until 30 June for a handover and transition purposes.
She was appointed to the role last June replacing Nick Parsons who had a short stint at the helm of the Australia-headquartered platform technology provider.
Andrew Russell will be interim CEO until Roy’s successor is appointed.
Russell is currently an independent non-executive director and was previously CEO of Class Limited until it was acquired by Hub24 in 2022.
Bravura announced today (19 June) that the board has commenced a global external executive search for a “high calibre and experienced CEO” to lead the company.
Bravura chairman Matthew Quinn said: “Bravura has deep intellectual property, market leading products and a valued, high quality customer base. Our new CEO will be selected based on their ability to provide exceptional service to our customers, lead our talented employees and create value for shareholders. We thank Libby for her time as CEO.”
The platform tech provider is beset by series of crises including resignations, staff layoffs and funding shortfall.
In March, the board chair Neil Broekhuizen resigned after four years in the role. He has been a non-executive director at Bravura since 2009.
In the same month, the platform tech provider announced that it was considering staff layoffs and the sale of its subsidiary FinoComp as it struggles to raise millions to fund its operations.
Bravura provides software solutions for the wealth management, life insurance, and funds administration industries.
Some of its platform clients include Nucleus and M&G.
The business employs around 1,500 people in 17 offices across Australia, New Zealand, United Kingdom, Europe, Africa, and Asia.
