Wynyard Group chairman Murray Horn has resigned from the board as he scales back his workload citing health concerns.
Horn, who was previously a Treasury secretary and head of ANZ Banking Group's local arm, stepped down as a director of the intelligence software developer effective from today, the Auckland-based company said in a statement. Director Guy Haddleton will assume the chair, while Susan Patterson won't seek re-election at next month's annual meeting.
"Wynyard has taken a huge amount of time and energy in the lead-up to the rights issue earlier this year and subsequently as we started to implement the learnings from that period," Horn said. "Medical advice sought over the last few weeks is that I should not try and continue to work at the same full pace and need to consider reducing the range of roles I undertake."
Wynyard raised $30 million in a deeply discounted rights offer in March when plans to raise funds from foreign investors at a higher price were scuttled by the slump in global equity markets at the start of the year.
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The boardroom shuffle comes after Wynyard reorganised its management structure, aligning sales and marketing and product development with its two service lines - advanced crime analytics and investigations case management for government clients, and advanced cyber threat analytics and risk management software for commercial customers - and the exit of chief financial officer Murray Page.
Wynyard shares last traded at 69 cents and have sunk 62 per cent this year.