David Glavonjic loses job at Moore

Moore Australasia CEO, David Glavonjic, is cut from top job as the company downsizes and sheds even more staff.

The loss of its major customer, Tabcorp, earlier this year has proved bad luck for the company which has planned a series of cuts including reducing its board of directors from four to three, replacing current CEO, Glavonjic (pictured) with Ralph Stonell who will take on the role of both CEO and CFO as of 21 February, closing its Wodonga facility and sacking 25 per cent of Moore staff nationally – not only in Wodonga, but also in Sydney and Melbourne. Amid the exodus, director, Trent Harris has resigned while current CFO, Neil Mitchell-Clark, will also leave the company at the end of this month.

According to a statement, the restructure is expected to be compete by 31 May this year and hopes to achieve earnings between $2 to $3 million. “The board believes that the restructure of the business will place the company in a strong position to be able to recover value for shareholders and provide a stable platform to grow the business,” the statement said.

The NSW Road Transport Authority, however, has renewed its contract with Moore for another 12 months.

Chairman, David Paterson, was not available for comment at the time of publication.