Ann: Management Changes, page-5

Mark is not the first one to leave. Catapult does not seem to be able to retain its CFOs. Sue Banks was acting CFO between Feb 2016 and Oct 2016 (8 months tenure). Shane Greenan did the role from Nov 2016 to Oct 2017 (1 year) and stayed another month to help with transition. Mark Hall has taken from Nov 2017 and will stay till Mar 2019 to help with transition (1 year 5 months). Do you see the trend there? At least the tenure is getting longer! Let's hope the new CFO can stay for more than 2 years.

The constant revolving door of the CFO..is it a culture thing? Or the job is too boring? Or the recruitment process is missing some criteria? Or maybe there is not enough grandiose in it, i.e. one can't do empire building in it because Catapult is more focused on technology development and sales & marketing? Or they have just not been the right fit and was forced out? Or maybe the remuneration is not enough to retain them?

I had a look at what former CFOs are doing now. Shane hasn't really been onto anything exciting. Sue as well. Let's wish Mark well and hope he's onto something really exciting.

Catapult is still a young company and requires people that have scaled from a 100mln mkt cap company to 1 billion mkt cap. Someone who can strike a balance of cost control with business expansion (not an easy one to do). Let's hope Catapult can find that person.