Cirrus Networks has announced non-executive director and IT entrepreneur Matt Sullivan will transition to the role of managing director at the company’s next general meeting.
“Matt’s proven track record in this sector and intimate knowledge of the L7 business make him the obvious choice to helm Cirrus through its next stage of growth,” Mr Richmond said.
“Matt brings a level of industry experience with him that will be critical to our success as the Cirrus business matures and becomes more complex.
“This move will enable me to focus more on sales and business development opportunities as we seek to continue the rapid growth of Cirrus.”
Mr Sullivan will receive a base salary of $240,000 per annum plus superannuation.
Cirrus shares closed 3.4 per cent higher to 3 cents each.