Australia’s leading online book retailer, Booktopia (ASX:BKG) has appointed David Nenke as its new Chief Executive Officer, replacing Geoff Stalley from 8 May 2023.
The company states that Nenke will report to Booktopias’ Chair and Board of Directors, Peter George, who says the company had conducted an exhaustive international search to acquire the right person to lead Booktopia into the future.
Commenting on the appointment of the new CEO, Booktopia Chairman Peter George said: “David was the standout candidate from a very high calibre shortlist. He has hands-on knowledge and extensive experience as a leader in technology-driven e-commerce businesses.
We are confident Mr. Nenke has the experience, capabilities, and attributes to ensure Booktopia reaches its full potential.”
“Booktopia is a pioneer of e-commerce in Australia and remains a highly respected brand that is trusted by millions of book buyers every year”
Also commenting on his appointment, David Nenke said: “Booktopia is a pioneer of e-commerce in Australia and remains a highly respected brand that is trusted by millions of book buyers every year.
Steering the business through the post-COVID environment while transitioning to the Next Gen CFC presents a range of challenges and opportunities for the business.”
Additionally, Booktopia announces an entity associated with former CEO and company founder, Tony Nash and Tachyon Ventures entered into a short-term consultancy agreement with Booktopia, an entity within the Booktopia group of companies.
Under the Consultancy Agreement Tony Nash, through his entity is providing the company with advice on the development of, and assistance with the implementation of, revenue generation and gross margin optimisation strategies, tactics, campaigns, initiatives, and other measures.
Tachyon Ventures will be paid a consulting fee of $2,500 gross per day, for a maximum of 3 days per week, unless otherwise required by Booktopia.
Additionally, the company will also pay, or reimburse, the consultant for reasonable out-of-pocket expenses incurred with prior approval and in accordance with Booktopia’s expenses policy.
The term of the Consultancy Agreement is taken to have commenced on 23 January 2023 and ends of 22 January 2024, unless terminated earlier by either party on the provision of 1 month’s written notice or for cause.
Booktopia also notes the agreement may be extended by a further 1-year period by mutual agreement.