Publicly listed IT company Archtis has axed three directors from its board as part of a wider streamlining effort.
The move comes as Miles Jakeman steps up as chairman of the Canberra firm, five months after he was appointed as a non-executive director.
The cutting will see Archtis co-founder Bruce Talbot step down from the board in order to continue on in his role as chief architect.
The new board will consist of Jakeman, the co-founder of Citadel, plus Leanne Graham and CEO Daniel Lai.
Instead of a six-person board, Archtis will now be advised by an advisory group that will be led by former chair and non-executive director Stephen Smith.
The company will now be looking to improve its financial year performance following a bleak half year performance that saw revenue plummet from $936,847 to $248,809 year-on-year.
It also posted a loss of $2.2 million, a marginal 5 per cent dip from the 2018 period, but one still flagged by the company.
“Miles has proven himself to be a highly effective board member during his time at Archtis,” Smith said.
“His extensive experience with listed technology companies and broad investor network will be critical to Archtis as the company enters its next phase of growth and development.
"Miles is ideally placed to help ensure management continues to grow the Archtis client list and pipeline off the back of our recent successful capital raising.”