Courtney Petersen has resigned as CEO and managing director of lawyers Shine Corporate after less than two years in the job.
There was no reason given for the departure but it comes in the same month as a profit warning.
Founders Simon Morrison and Stephen Roche have stepped in to take on key roles.
Morrison will resume his previous role of managing director and Roche will become a consultant, working with the senior leadership of the company.
Board Chairman Tony Bellas said: “Courtney joined Shine in April 2015 and the board recognizes her valuable achievements during that time. The Board is pleased to see the return of the founders to the company to lead it through the next phase of its growth.”
The company’s shares have fallen by half since October. A short time ago, they were trading at 75 cents.
Its 2016 full year statutory profits were down 50% to $14.8 million.
And earlier this month the company warned of challenging conditions which would mean an underperforming energy and resources practice area.
Shine reforecast statutory EBITDA (earnings before interest, tax, depreciation and amortisation) to between $36 million and $40 million for the 2017 financial year.
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