OzForex CEO resigns

OzForex has become a bit accident-prone, after the loss of a banking partner and now its CEO, and we're downgrading to Hold.

OzForex has become a bit accident-prone in recent weeks. First of all it lost Westpac as a banking partner, and now it’s lost its chief executive. After seven years in the role, Neil Helm has decided that ‘following the successful IPO in 2013 and the Company’s first year of operation as an independent listed entity and with the Company in such great shape, I feel the time is right for me to make a lifestyle change and spend more time with my family’. He will remain in the role ‘over coming months until a successor is appointed’ and will help with the transition.

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