Bravura said acting CFO Harmen Fredrikze has resigned from the role effective from 8 June 2023 to pursue other opportunities.
The wealth management software group added that Mr Fredrikze will work with the board and management to transition his CFO responsibilities. Bravura said it would continue its search for a permanent CFO.
Mr Fredrikze joined the business as group controller in 2014, before being elevated to the acting CFO role in January 2023 when previous CFO Brent Henley moved to a newly created global role of chief commercial officer.
He was previously finance director for NYSE-listed technology and software company Computer Sciences Corporation in the UK, and had held senior finance roles in Australia, including with software company iSOFT Group and Sydney Airport Corporation.
Bravura chief executive Libby Roy said: “We thank Harmen for his contribution to Bravura since 2014, in particular, more recently stepping into the acting CFO role. We wish him all the best with his future endeavours.”
Bravura had a tough first half of the financial year, originally delaying its results reporting in February and requesting a voluntary suspension of its securities to review its “business performance and guidance” and evaluate the possibility of conducting a capital raising.
When the company released its results in early March, it revealed a $190.9 million net loss and announced a fully underwritten equity raising of $80 million, which Bravura said would result in the issue of some 200 million new shares, representing approximately 81 per cent of its current issued capital.
“The first half was undoubtedly a difficult period with our performance impacted by a number of operational and market-related challenges,” Ms Roy said.
“However, after conducting a wide-ranging strategic review of our business and having taken some tough but necessary decisions, I believe we now have a plan in place that will allow us to better manage and monetise our suite of high-quality, mission-critical products and build on our strong customer base.”
