ASX-listed ICT professional services provider, PS&C (ASX:PSZ) has made several changes to its executive team, hiring Kurt Hansen as the group’s security and communications CEO and Jeff Bennett as its chief financial officer.
PS&C is made up of three business units - People (technical and professional services), Security and Communications.
Hansen previously worked for Cisco, Symbol Technologies, F5 Networks and CheckPoint Software. He was also a senior executive at Telstra and was the CEO of AirData.
Bennett replaces outgoing CFO, Julian Graham, who held the position for the past four years, since PS&C listed on the ASX. Bennett was formerly the CFO for DXC Red Rock, UXC Professional Solutions and Ingena Group.
PS&C general manager of finance and administration, Mary Pitt, has been given the company secretary post, and comes to the role with more than 17 years of finance experience across business and government.
In a statement, PS&C CEO, Glenn Fielding, said the appointments were a step towards taking advantage of the foundation at PS&C.
“I believe there is an outstanding opportunity to improve performance and we are assembling the team to achieve that,” he said.
During FY17, PS&C saw operating revenue tumble 13 per cent to $73.90 million and normalised EBIT was down 27 per cent to $5.81 million and reported net profit was impacted, down to $5.5 million, after a goodwill impairment of $6.8 million.
The company made two acquisitions in June, Melbourne-based cloud services provider, Sacon Group and Salesforce consulting business, Coroma Consulting. Both are expected to contribute more than $2 million in earnings before tax.
Facing a year of restructuring its business units, Fielding said it expected to generate a significantly better FY18, pinning his focus on growing the business, eliminating single point of failure and creating value for shareholders.
“We have made some important acquisitions in high growth areas and I expect these to add significant growth to the group,” he said.
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