TechnologyOne backs CFO after shareholders query Corporate Travel role
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The news: TechnologyOne has publicly backed its chief financial officer Cale Bennett after shareholders queried the executive's former role at embattled travel group Corporate Travel Management.
The numbers: TechnologyOne shares were up 1.1% to $29.05 at 11:20am AEDT. The stock is down 19% in the last month.
The context: The company said its chair and CEO have each spoken to Bennett regarding ongoing financial issues at Corporate Travel, which last month led to the withdrawal of its FY25 guidance and the suspension of its UK chief executive.
Bennett has led TechnologyOne's finance and corporate services teams for more than two years, having previously served as Corporate Travel's global CFO between 2021 and 2023, and deputy global CFO between 2019 and 2021.
TechnologyOne said Bennett is monitoring developments at his previous employer and is "comfortable with his position".
"Consequently, because of our positive experience with him and his reassurances, TechnologyOne is also comfortable for Cale to continue to lead the finance and corporate services teams," the company said.
The source: ASX
