Director of sandalwood producer TFS Corporation Patrick O’Connor has resigned from the board today, just weeks after stepping down as chairman as the company continues a refreshing of the board.
TFS Corporation director Patrick O’Connor has resigned from the board of the sandalwood producer today, just weeks after stepping down as chairman.
It also flagged other board changes, saying it was undertaking a refresh and expansion program of the board.
Chairman Dalton Gooding said Mr O’Connor had invested significant time to enhance the company’s corporate governance systems and processes.
“This structure provides TFS with a strong platform to confidently pursue new commercial opportunities, and on behalf of the board I would like to thank Patrick for his efforts and wish him the best in his future endeavours,” he said.
Unaudited results for the September quarter pointed to an $18.6 million net profit after tax, after a $5.1 million loss in the three months to June.
TFS was down 5 per cent to $1.33 per share at the time of writing, after reaching highs of $2.20 in September.