In a move that has shocked a lot of industry executives, the CEO of Cygnett Paul Santoro has left the Melbourne-based accessory Company, with a new board director appointed as Chairman.

It was only a few days ago that ChannelNews had breakfast with Santoro as he outlined his plans for the business in 2023. There was no mention of him exiting the business.

According to director Kimberly Swann, the new CEO of the business is Jason Carrington, who for the past 10 years has been the CFO of Melbourne-based security Company Swann Communications.

Next week Cygnett is set to hold a major 2023 management strategy meeting where the Company’s new product director will outline his product strategy for the business going forward.

Paul Santoro former CEO Cygnett,

 

Dewhurst is a highly respected businessman. In 1980, he took a year off work to coach three Olympic athletes, including Australian sprinter Raylene Boyle, who earned a berth on her fourth Olympic team.

According to a statement issued to ChannelNews, Dewhurst has spent more than 40 years in the financial services industry in Australia, Hong Kong, the UK, and the United States.

His roles have included Head of Americas for JP Morgan Asset Management, Senior Vice President and Head of Global Investment Managers for Legg Mason Inc, and Chairman and CEO for Cooper Investors.

Kim Swann says, “Jason brings to the role a deep understanding of the Swann family business group. Prior to joining Cygnett in 2019 as Chief Financial Officer, he spent 10 years as Chief Financial Officer of Swann Communications.

“As Cygnett approaches its 20-year anniversary, these appointments usher in a new chapter of growth and evolution for the business,” said Kimberley Swann, Non-Executive Board Director at Cygnett.

She adds, “We are confident Ron and Jason’s extensive experience, and expertise will drive our company’s continued success, and we look forward to seeing what they will accomplish in their new roles.”

Commenting on his appointment as CEO, Jason Carrington says, “I have been fortunate to work with the Swann family business for over 14 years and my time at Cygnett has been especially rewarding. I am excited to lead a company so committed to bringing customers across the world innovative, quality products. Together with our talented team, we will continue to deliver in this commitment, paving the way for Cygnett’s continued growth in the years to come.”

Ron Dewhurst supported Jason’s sentiments.

“Cygnett has a rich, 20-year history at the forefront of the electronics industry. I look forward to collaborating with the Board and leadership, as we work together to set Cygnett up for another 20 years of success.”

For more information, please visit the Cygnett website.