Australia's Atomos dives after CEO's appointment terminated
14/04/2022 02:18
** Shares of video tech firm Atomos Ltd AMS.AX slide as
much as 24.4% to A$0.68, set for their worst session on record
** Says current CEO Estelle McGechie's appointment in the
position has concluded primarily because she has not yet
relocated to Australia urn:newsml:reuters.com:*:nASX1Q70Kr
** Co says it "has always indicated that it requires the CEO
to be based in its Melbourne headquarters"
** McGechie was appointed CEO in September, when she was
chief product officer and based in Silicon Valley urn:newsml:reuters.com:*:nASX4jdP8L
** Chief technology officer Trevor Elbourne appointed
interim CEO
** Trading volumes are at over 32 times their 30-day
average, with 11.3 million shares traded so far
** Stock hits lowest level since Nov. 9, 2020
** AMS down 15.1% YTD, as of last close
(Reporting by Harshita Swaminathan)
((Harshita.Swaminathan@thomsonreuters.com))