DXN Ltd. announced the appointment of Abigail Cheadle as a non-executive Director (NED) and chair of the Board and the appointment of its CEO, Shalini Lagrutta as Managing Director. Ms. Cheadle will replace Chairman Peter McGrath, who has formally resigned May 1, 204, along with fellow NED, Tim Hannon. Ms. Cheadle is a Chartered Accountant whose career has spanned Asia, Europe, the Middle East, and Australia. Ms Cheadle has led professional services practices for global firms, including EY, Deloitte, and KordaMentha. With a focus on corporate strategy and risk management, she turned around listed entities during the Asian Financial Crisis. Most notably, Indonesian-listed consumer finance company, BFI Finance Indonesia, during which time its market cap increased over 13 times. Ms. Cheadle is an experienced NED with an extensive background in professional services,
technology, consumer products, infrastructure, and renewable energy. Ms Cheadle will continue Chairing Shriro Holdings (ASX: SHM) and being NED of LGI Ltd. (ASX: LGI) and Reef Casino Trust (ASX: RCT). Ms. Cheadle has previously sat on five other ASX listed Boards. Ms Cheadle said she was looking forward to working with the Board and management of DXN as it embarked on a new phase. Following the appointments, the DXN Board currently comprises Ms Cheadle, DXN CEO Shalini Lagrutta, Brendan Power and Myo Ohn. Myo Ohn said Ms. Cheadle's extensive experience as a listed company Director and Chair made her the ideal choice. Ms. Shalini Lagrutta has been CEO of DXN since September 2022 and steps into the role as CEO/Managing Director. On the back of the exit of the Sydney lease, a successful capital raise as well as several modular data wins during the March 2024 quarter, Shalini and her team has achieved its first unaudited profitable quarter since 2022. Peter McGrath was appointed a non-executive director in October 2022 and Chair in March 2023. Tim Hannon was appointed non-executive director in March 2023. Both Peter and Tim have provided strategic and governance direction to DXN and step down to focus on other existing business opportunities.