Donaco appoints new directors, resumes trading

Donaco International has announced the appointment of two independent and non-executive directors, including Mel Ashton, who will take on the role of chairman, and Simon Vertullo, as director. 

Both appointments are effective as of Monday, 9th December, and follows just days after the resignation of Donaco CEO Paul Arbuckle. 

Incoming chairman Mel Ashton said: “The board od Donaco is focused on supporting the management team, transitioning to a new chief executive over the coming six months and resolving distractions that have hampered the company’s performance in recent times. With strong turnaround credentials on the newly instituted board, the directors are aligned in our focus on stabilizing the company and delivering for shareholders. My fellow directors and I will also look for opportunities to strengthen the board further with additional industry expertise. 

Mr. Ashton is a listed company director with over 37 years of experience in the hospitality, property, banking, and finance, and mining and resource sectors. He is a chartered accountant, with senior leadership experience of KPMB and PPB.