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Renaissance CEO steps down

Renaissance CEO steps down

Shaun Rendell leaves the company

Shaun Rendell, who has been the CEO of Renaissance since Richard Webb left the company late last year, has stepped down and taken on a position with another company.

Renaissance's chairman Colin Giffney made the announcement to NZX today and says Rendell will leave Renaissance on August 31. "The Board of Renaissance thanks Shaun for his contribution through a tumultuous period for the Company and wishes him well in his new position," Giffney says.

The company has decided to appoint Ron Halls as CEO on a temporary basis until a new appointment is made.

Following the announcement of Webb's exist in November last year, the company posted losses of nearly $4.4 million (in the 12 months to September 30) on a total revenue of $182 million.

Renaissance has since then sold its distribution division to Exeed, a transaction approved last month.


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