Veteran managing director of CSG, Denis Mackenzie, is stepping down to take a smaller role in the company.
Mackenzie had been at the helm for 11 years. He joined the company in 1996 and was given the top job in 2001. He is a founding shareholder of the company. Mackenzie intends to come back to CSG on 1 July in a part-time executive role in corporate and business development, and will receive an invitation to rejoin the board.
Before moving to CSG, Mackenzie worked at Macquarie Bank and Coopers & Lybrand.
CSG chairman Josef Czyzewski praised Mackenzie's time with the company.
"I would like to thank Denis Mackenzie for his contribution to building this business over 16 years, including almost 11 as managing director. His vision enabled CSG to become a major IT and print services provider with a significant presence across mainland Australia and New Zealand."
CSG has announced Julie-Ann Kerin as CSG's new managing director, starting from tomorrow. For the last four years she has been working as the group general manager of the company's Technology Solutions division. Before that she worked for a variety of firms, including Gramercy Venture Advisors, Actuate, Haht Commerce, Genasys and Computer Power.
Kerin's fixed remuneration has been set at $600,000 a year. In addition, she will be eligible for $200,000 worth of short- and long-term performance payments. In the year ending 30 June 2011, Kerin received around $400,000 in fixed pay, with over $200,000 extra in performance-based pay. In comparison, Mackenzie's fixed salary stood at over $800,000 for 2011 including super, with only a small performance-based payment.
Kerin said that she wanted to spend time digesting the business' recent acquisitions. "I look forward to working with the team across CSG to promote further integration and unlock the potential in all parts of the business. After a period of growth through acquisition, which has seen the business significantly expand both its geographic and customer reach, there is now an opportunity to optimise the returns from the platform that has been created."
CSG had also been the target of an unsolicited takeover bid itself; however, the offer was turned down.
The company also adjusted its results forecast for the first half of 2012 to 31 December, saying that CSG's Net Profit After Tax (NPAT) will be around $9 million to $11 million because of one-off costs from the unsolicited takeover bid.
"The process was disruptive across our businesses, which together with challenging trading conditions impacted on CSG's financial performance in the latter part of the half year. While Technology Solutions and Print Services New Zealand performed broadly in line with management expectations, the impact was more significant in Print Services Australia," CSG said.
The company said that it had appointed its executive director, Philip Chambers, to the role of group general manager of Print Services Australia. He replaces David Ward, who brought forward his planned retirement from 30 June 2012 to 27 January 2012.