New CFO in Tribeca management restructure

Tribeca Learning has created the new position of director, corporate and strategy as part of a reorganisation of its senior management team.

Current chief financial officer and company secretary Warren Jacobson has assumed the new position which, according to chairman Don Stammer, has been introduced to “resource the company for future growth”.

Stammer said Jacobson would retain responsibility in his new role for corporate and strategic development “in respect of which he has played an integral role since his appointment to the board in 2001”.

Greg Fordred, formerly group financial controller at MBF Australia, has replaced Jacobson as Tribeca’s chief financial officer and company secretary.

Fordred was previously head of finance and company secretary PMI Mortgage Insurance, and also has six years auditing experience with BDO Nelson Parkhill.

The reorganisation follows Tribeca’s exit from its compliance business last month to focus on its education and professional development, and its announcement in May that it will scale back its events business.

Its compliance business, representing about 5 per cent of its revenue, was sold to boutique dealer support and services company Paragem Partners for $125,000, effective from June 30, 2005.

The reorganisation is also taking place against the backdrop of an anticipated disappointing finish to the 2004-05 financial year.

Operating earnings are forecast at between $3.3 million and $3.7 million by June 30 — a 30 per cent increase on 2003-04 — but the growth is related to education-related acquisitions and masks a decline in its events and compliance businesses for the year.