Australia's Kip McGrath Education slips on CEO departure

Kip McGrath Education Centres

06/05/2025 05:21

** Shares of Kip McGrath Education Centres KME.AX slip 5.6% to A$0.425, their biggest intraday pct loss since April 23

** The after-school tuition services provider announces the departure of CEO and MD Storm McGrath

** McGrath served the firm for nearly 25 years, including 19 years as the MD & CEO

** Non-Exec Chair Damian Banks will have increased involvement in the business during the transition period and assume the role of executive chair - KME

** Stock has lost 7.6% so far this year

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))