Cellnet CEO Stuart Smith resigns

Cellnet CEO Stuart Smith resigns

Cellnet will name a new CEO in due course; Smith had been in the role for three and a half years

Cellnet has announced CEO and executive director, Stuart Smith, has resigned after three and a half years in the role.

During his tenure as CEO, Smith oversaw the exit of the company's loss-making IT segment and led the restructure of its balance sheet, helping it reach a "strong position with no debt and a healthy cash balance", the company said in a filing with the ASX.

Cellnet is a niche distributor of mobile accessories, flash memory and retail products.

Cellnet will name a new CEO in due course, it said in the announcement.

Its existing senior management team will manage the company in the interim.

After implementing the changes over the past three years, Smith saw now as the right time to hand over the reins to someone else as Cellnet goes to the next level of growth and development, the company said in the annoucement.

Smith could not be immediately reached for comment.

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