Listed reseller Volante announced to the ASX late Wednesday its MD Wayne Morris has resigned. Former CFO Simon Duncan is acting CEO until a new managing director is announced.
Both internal and external candidates are being considered and the appointment is expected to be resolved within the next couple of months.
A Volante spokesperson commented yesterday morning Morris' exit was due to "personal and family reasons".
Morris was at the helm of Volante when it listed on the ASX in December with an estimated market capitalisation of $61 million. The offer raised $30 million and contributed to the company's expansion through acquisitions as well as developing product lines and services.
General manager Hugh Bickerstaff says that Volante is "a stable organisation in terms of senior management", and Morris' resignation will not effect the overall goals to expand their e-commerce offerings, procurement and solutions.
Volante's Customer Connect system, which gives customers access to product information, pricing and availability, as well as allowing them to order online, has won the company lucrative partnerships with the likes of IBM, Compaq, Toshiba, Hewlett-Packard, Microsoft, Novell, Citrix, Cisco, 3Com, Nortel/Bay and Sun Microsystems.
The company is currently holding a stable market value of $40 million and has a turn over of $220 million a year.