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Atomos declares the appointment of Peter Barber as COO & Government Board Director

Atomos has introduced the appointment of Peter Barber as COO and Government Board Director with instant impact. This comes solely a month after the corporate introduced that Co-founder of Atomos, Jeromy Younger was returning as Managing Director and CEO. Jeromy Younger was the Atomos CEO for over 10 years and he retired from govt duties in November 2021. Jeromy changed Trevor Elborne who resigned as CEO of Atomos. 

Peter is an trade veteran with over thirty years’ expertise in manufacturing and post-production, together with three years at Apple Laptop the place he was answerable for the rollout of Last Reduce Professional and different video options in Asia Pacific. As co-founder and co-owner of Blackmagic Design, Peter performed a key position in rising that enterprise and drove the M&A technique which noticed him lead and negotiate the acquisition of seven companies over an eight-year interval.

Though the corporate’s current historical past has been tough, our prospects have continued to assist the model because of the uniqueness of our merchandise and the essential position they play in skilled video workflows,” he added. “I firmly consider that with time, the proper assets, refocused product methods and the reinvigoration of Atomos’ core DNA with the return of founder Jeromy Younger, we could have a really strong foundation to develop past the corporate’s earlier success. Having recognized Jeromy for nearly 20 years, together with working collectively at Blackmagic Design, we have now a really comparable view of the video trade and the course it’s headed.

I really feel like a founder within the rebirth of Atomos, and I have to say that I’m thrilled to be becoming a member of and investing in one other Australian firm that has created a world impression, with an important model” mentioned Barber, “The instant focus is to develop gross sales of Atomos’ world-class merchandise, whereas strengthening and including to the product vary and know-how companies accessible to artistic professionals everywhere in the world, with an eye fixed on increasing into adjoining markets

Peter Barber, Atomos COO and Government Board Director

This appointment is a part of an organization restructuring and broader recapitalization course of, together with a return to inventory market citation which will probably be introduced to the market in additional element over the approaching weeks.

That is one other attention-grabbing transfer by Atomos and will probably be attention-grabbing to see what course the corporate now goes in.

These Board and Government adjustments are a part of a proposed broader recapitalisation course of which can embrace the lifting of the suspension in buying and selling of the Firm’s shares on ASX, additional particulars of which will probably be introduced to the market over the approaching weeks. 

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Above you may see the ASX announcement that was issued on the 4th of January.

Latest board restructuring on the firm noticed the Chief Monetary Officer (CFO), James Cody, resigning to pursue different enterprise pursuits after virtually 7 years on the firm. Atomos continues to be endeavor a complete search course of to discover a substitute CFO.

In December, Atomos Restricted reported earnings outcomes for the total yr (which ended on June 30) of 42.76 million AUD which was properly down on the earlier years gross sales of 73.28 million AUD. The web loss was AUD 61.06 million AUD which was greater than 50 million AUD increased than the earlier yr. 

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Picture credit score: The Motley Idiot

The Atomos Restricted share worth at the moment sits at simply 0.065 AU, however the inventory was suspended from buying and selling again in early 2023. Above you may see how a lot the inventory worth has fallen over the 1.5 years.