Bouris steps in as chief exec flees

by Adam Smith01 Jun 2012

YBR executive chair Mark Bouris has stepped in to lead a technology company he chairs after the resignation of its CEO.

In a statement to the ASX, Bouris has revealed tech company TZ has seen its chief executive John WIlson resign following a scuttled deal that led to its share price plunging by 45%.

The company, which owns the prototype for a secure mail locker, missed out on a tender with "one of Australia's largest parcel delivery and logistics operators", Bouris told investors in a statement.

"TZ would have benefited greatly if [the] bid had been successful," Bouris said.

Following the unsuccessful tender, Bouris said the board accepted Wilson's resignation. Bouris said he and the other executive directors would perform Wilson's duties during the hunt for another chief executive.