- Finance function restructured
- Opex reduced while sales resources increased
- Martin Ross promoted to Chief Operating Officer
Anti-counterfeit and consumer engagement solutions provider YPB Group Limited (ASX: YPB) is pleased to announce a restructure of the Finance function to allow increased investment in sales and marketing while reducing total costs.
Having helped the company to implement strong financial systems with the finance team over the past two years, Adrian Tan, CFO, has resigned effective 31st May 2022 to further pursue his career. Given the company’s size and now modernised financial systems, a CFO is no longer required, and a new Head of Finance and Accounting has been appointed. The change will result in a meaningful cost saving, freeing resources for re-investment in increased sales and marketing.
As part of the restructure, Martin Ross will be promoted from Group Commercial Director to Chief Operating Officer reporting to the CEO. Martin has done an outstanding job building client relationships and driving Sales and Marketing which he will continue to lead and will now work even more closely with the technical team to ensure all R&D is pinpoint targeted to drive product uptake.
The Head of Finance and Accounting will be based in Bangkok along with YPB’s Technical team, operations and marketing functions.
YPB Group CEO John Houston said: “I would like to thank Adrian Tan for his professionalism and dedication and wish him well for his future endeavors. I congratulate Martin Ross for his promotion. The restructuring will allow costs to be reduced while speeding the commercialisation of our technology. It is another step toward profitability and growing shareholder value.”
This announcement has been authorised by the Board of YPB Group Limited.
