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Slaters GC quits after two months
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Slaters GC quits after two months

stovk market

The general counsel and company secretary of Slater and Gordon, Moana Weir, has resigned after only two months in the role.

Ms Weir’s resignation comes a month after the listed firm announced a devastating $958.3 million loss for the first half of this financial year.

Group chief financial officer Bryce Houghton has been appointed as company secretary and the firm has immediately replaced the general counsel role with an external adviser.

Houghton replaced outgoing CFO Wayne Brown last year amid controversy surrounding Slater and Gordon’s financial records.

Ms Weir, a former general counsel and company secretary at REA Group and Seek Limited, joined Slater and Gordon on 29 January.

The firm’s share value sat at 24 cents around midday yesterday, following the announcement.

The firm is now valued at $85.28 million, down from $2.75 billion a year ago, according to Google Finance.

The firm has a week to come up with a viable plan to restructure the business to secure new loan terms from a banking syndicate led by Westpac and NAB.

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