Sacked Praemium CEO Ohanessian tries to oust chairman

Added 20th March 2017

Former Praemium chief executive Michael Ohanessian has requested the company hold a general meeting in a bid to oust chairman Greg Camm and three directors.

Sacked Praemium CEO Ohanessian tries to oust chairman

The Australia-headquartered platform provider sacked Ohanessian as chief executive and managing director on 22 February.

At the time, the company said a chief executive with a different skillset was needed to service the company’s leadership needs for the next phase of its growth and development.

Ohanessian joined Praemium as chief executive in August 2011.

Chairman Greg Camm, who joined Praemium in November 2016, held the chief executive role briefly until Robert De Luca was appointed on an interim basis on 6 March.

A new chief executive is expected to be appointed in the next few months, although Camm said that De Luca would be a “strong candidate for the permanent role, should he elect to participate in the process”.  

General meeting

Representing a group of shareholders, that collectively owns more than 17% of Praemium, Ohanessian notified the company on 15 March that he wanted to arrange a general meeting to:

  • Remove as directors, Andre Carstens, Peter Hamler, Robert Edgley and Camm, along with any person appointed as a director on or after 14 March.
  • Appoint Barry Lewin, Stuart Robertson and Daniel Lipshut, presumably as directors although this is not specified.

In a statement, Praemium advised that the company is “seeking advice as to its position with respect to the purported notice”.

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Kirsten Hastings

Senior Reporter

Kirsten is a senior reporter for International Adviser, covering global news stories about the financial services industry. She joined Last Word Media in October 2015 after two years working as a reporter covering the staffing and recruitment industry. Kirsten has a Masters in Financial Journalism from the University of Stirling. 

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