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AUSTRALIA'S largest listed childcare centre operator G8 Education (ASX:GEM) has announced a major leadership shake-up to take effect from January 1.
Founding managing director Chris Scott (pictured left with Jae Fraser and Chris Sacre) will step aside from the role he has held since 2010 following a takeover by Scott of G8's former corporate entity Early Learning Services.
Jason Roberts will also step aside as CEO to be replaced by Gary Carroll as the new CEO and managing director of the group.
Carroll, who has previously held senior positions with Super Retail Group (ASX:SUL), steps into the top job at G8 from his current position as chief financial officer.
Scott will retain a hand-on role at G8 , remaining as an executive director and working on a number of strategic projects.
Roberts will take on a general manager development role, where the company says he will 'lead the establishment of a dedicated team to drive development of the group's network and other revenue growth opportunities'.
"With the assistance of executive search firm Spencer Stuart the board has undertaken a thorough assessment of internal candidates and the relevant external market," says G8's chairman Mark Johnson following Carroll's appointment.
"Chris Scott and his team have done an excellent job building the G8 group from small beginnings to become Australia's largest listed and most profitable early education and child care provider.
"In September 2016, Canstar Blue announced that its most recent customer satisfaction survey had confirmed G8 as Australia's leading child care service provider in 2016.
"Gary Carroll joined G8 recently as its CFO after a successful career in a number of senior roles at Super Retail Group, among others.
"His experience is almost tailor made for the group and the board was impressed with his vision for the business."
G8 is now seeking a replacement for Carroll as CFO.
Meanwhile, the company says it has secured a two-year extension of its current $50 million working capital facility with Bankwest. The new facility will expire on December 31 2018.
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