Nuix COO and CFO Chad Barton to step down
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The news: Software company Nuix has announced its chief operating officer and chief financial officer Chad Barton will step down in August.
The numbers: Barton joined Sydney-based Nuix as joint CFO and COO in June 2021 after a five-year spell as Star Entertainment's group CFO. He remains a non-executive director at fellow gambling group SkyCity Entertainment, a position he has held since March 2021.
The context: Nuix, which sells software to law enforcement and regulators, said the company will commence its search for a new CFO, but did not comment on the COO position.
In April, the Australian Securities and Investments Commission (ASIC) dropped allegations against Nuix's CEO Jonathan Rubinsztein, after concluding its investigation into the executive's purchase of company shares at the time of a potential acquisition approach.
Nuix is still awaiting the outcome of separate proceedings brought by ASIC in the Federal Court, that allege Nuix of misleading the market by not disclosing its financial underperformance after the company's initial public offering in December 2020.
What they said: Rubinsztein said: "Chad joined Nuix at a critical phase in our development and has been instrumental in the transformation that has taken place over the last few years".
Barton said: "I am proud to have led part of the enormous positive change at Nuix over the past three years. The first stages of the company's transformation are now at or near completion, and these have been reflected in momentum in Nuix's operating outcomes and financial results."
The source: ASX announcement
