Vmoto rethinking Queensland move

Vmoto executive chairman Russell Goodman has stepped down, as the Perth-based scooter distributor announced it would review plans to relocate its head office to Queensland, just three weeks after announcing the plan.

Vmoto announced on December 24 it would move its head office to Queensland's Southport, a move it said would result in cost reduction and more efficient access to professional services and providers.

Vmoto told the ASX it would provide further updates of its decision in due course.

Mr Goodman will remain with Vmoto as a non-executive director His change of role followed a board resolution at a meeting held on 16 January.

The company said it was evaluating its board compositin and requirements, including the attributes of directors to strengthen the board.