Dubber shares rise on CEO appointment
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More news: Dubber shares gained at market open after the software company announced the appointment of its new CEO Matthew Bellizia, following the dismissal of former chief executive Steve McGovern in April.
Shares advanced 6.9% to $0.03 by 10:55am AEST, having plunged around 80% since the turn of the year.
Dubber appoints Matthew Bellizia as new CEO
The news: ASX-listed software firm Dubber has appointed Matthew Bellizia as its new chief executive, having dismissed his predecessor Steve McGovern in April over the alleged unauthorised use of company funds.
The context: Bellizia, who will start his role on Tuesday, was previously co-founder and CEO of Mobile Tracking and Data (MTData), a business which supplies a software platform and mobile technologies to industries including transport, taxi, mining and government.
MTData's transport technology business was bought by Telstra in late 2017 and Bellizia continued as CEO until August 2023. A2B Australia bought MTData's taxi technology business in 2018, where Bellizia continued to consult until June this year.
Acting CEO Peter Pawlowitsch will revert to his previous role of part-time executive director and will support Bellizia as he joins the company.
Last month, the embattled voice recording tech company flagged that $26.6 million of company money was still missing, with the business alleging former CEO McGovern and third party trustee Christopher William Legal may have been involved. Dubber had said that an audit of its accounts was continuing and would likely raise concerns regarding the company's ability to operate.
What they said: "Importantly Matthew has a deep understanding of the importance of data to drive business outcomes which aligns to the Dubber solution current and future solution direction," said Dubber chair Neil Wilson.
"He has the skills and experience to lead the company to its target of operating cash flow breakeven in FY25 and to build market share and revenue growth into the future," he said.
The source: ASX announcement
