Gale Pacific to relocate CFO role to US; Reaffirms FY21 PBT at upper end of guidance

by | Aug 13, 2021 | IN THE MEDIA

GALE Pacific Limited (ASX: GAP) today announced that it will relocate its Chief Financial Officer role to the United States in line with its strategy to accelerate growth in the Americas, which is now GALE’s largest market. As a result, the current CFO, Domenic Romanelli, will leave the company effective 30 September 2021. The search process for a US-based CFO is well underway, and the company expects a smooth transition with an experienced and capable finance team in place across all regional businesses.

GALE Pacific Chief Executive Officer & Managing Director, John Paul Marcantonio, commented: “Dom joined GALE Pacific during a very challenging period and has played a central role in helping the company manage through the challenges and deliver on the opportunities of the past two years. I want to thank Dom for his partnership over his tenure at GALE Pacific and, together with my co-directors, wish him the very best in all his future endeavours.

“The size, scale, and overall market potential for our business in the United States make it our largest global growth market for the foreseeable future. Having our CFO based in this market will better enable our company to achieve its growth ambitions over the coming years.”

The company also announced an unaudited profit before tax of $17.2 million for FY21, at the upper end of the previously announced guidance range of $15.8 to $17.8 million.

GALE Pacific will release full year FY21 results on 24 August 2021 with an investor call to follow at 10:30am AEST. Dial-in information is included below.