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Another Director Quits Shriro EGM Cancelled

Another director has quite Sydney based distributor Shriro Holdings effective immediately.

Independent non-executive Director Kim Slater has resigned effective immediately with questions being asked about the future direction of the business that last year lost the distribution rights to Blanco as well as sales of their Omega range of appliances at Harvey Norman.

The business has had three chairpersons in six months and recently reported a 35% fall in profits.

Current Chairperson Abigail Cheadle said: “The Directors thank Mr Slater for his contribution. Kim ‘s insight has been invaluable in helping formulate Shiro’s BBQ strategy.”

The business had planned to call an Extraordinary General Meeting for the 14th of June, but this has been cancelled according to Cheadle.

According to a recent statement from Shriro John Murphy has been appointed as a director effective immediately. John was nominated by Portfolio Services Pty Ltd (a subsidiary of Ariadne Australia Ltd (Ariadne)), which holds just over 5% of the shares in Shriro.

Murphy is currently the non-executive Chair of Alloggio Limited and a non-executive Director of Ariadne.

Prior to that he was partner at Arthur Andersen, and the founder and managing director of private equity funds including Investec Wentworth Private Equity Limited and Adexum Capital limited.

Questions are also being raised about the future of CEO Tim Hargreaves who was appointed into the CEO role after running the Companies Casio business.

A former director told ChannelNews that executives at Casio in Japan have insisted that Hargreaves stays on as the CEO. Casio products are according to sources Shiro’s best “generator of revenue”

Hargreaves has had to manage a procession of executive resignations with one insider who worked for the business three years ago telling ChannelNews that “There is hardly anyone at the Company now that were there three years ago.”

The exodus of experience is hurting the business. They are also finding it hard to find new experienced people today.”

Back in March 2022, Shriro Holdings Limited advised that Lisa Jones had also quit as Company Secretary.

Shane Booth as Company Secretary replaced her, effective from 24 March 2022.


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