Think Childcare confirms departure of Chief Financial Officer
Think Childcare has confirmed that Jenny Saliba, Chief Financial Officer, will be departing the Group effective 30 April 2021.
Ms Saliba joined Think in April 2018 at which point the Group had around 43 early childhood education and care (ECEC) services and was forecast to generate CY21 earnings before interest, tax, depreciation and amortisation (EBITDA) of $14.2 million.
Since then Think has grown substantially with 114 services expected to be owned by the end of 2021 generating around $30 million of EBITDA across the Group, as well as a strong development pipeline for future growth.
Ms Saliba was also instrumental in transitioning Think through the move to the new Child Care Subsidy in July 2018, negotiating current banking facilities and supporting the implementation of the innovative stapled structure for the Think Childcare Development entity.
Managing Director and CEO Mathew Edwards said, “Jenny leaves the Group in a demonstrably stronger financial position, with a healthy cash at bank and head room to further execute on our strategy.”
“Jenny partnered with operations to navigate the transition to a best in market child care operator, and execute on a capital investment program to improve the quality of the Company’s services. Her stewardship over the past 3 years and her forward thinking has been critical to our success.”
The Group thanked Ms Saliba for her commitment and confirmed they had commenced the process to appoint a successor.