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Mayfield Childcare shuffles board as Chair and CEO announce retirement
Jason Roberts
Aug 23, 2022
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ASX listed Mayfield Childcare has confirmed that Chairperson Peter Lowe and Chief Executive Officer Dean Clarke have informed the Board of their intentions to retire and that David Niall and Ashok Naveinthiran have been appointed to replace them.
Mr Clarke co-founded Mayfield in 2016, and with the support of Peter Lowe as Chairperson, listed the business on the Australian Stock Exchange soon after.“It has been a privilege to have led the creation of the Mayfield business from its inception in 2016, through to today. I am extremely proud of the Mayfield team and the extraordinary results we have achieved, consistently exceeding expectations along the journey, ” Mr Clarke said.
Mayfield currently owns 35 centres, of which 14 were acquired in late 2021 as part of a material transaction with the Genius Childcare Group, reported its Half Year 2022 Financial Results last week.
The Mayfield Board noted that it would like “to thank Peter and Dean for their significant achievements and contributions to the success of Mayfield Childcare since IPO” and that “the company is in a strong position to capitalise on their contributions and the foundation they have established for future growth.”
Chairperson and CEO replacements both have direct Mayfield / Genius experience
David Niall, who will replace Peter Lowe as Chair, is currently a non executive director of Mayfield, a position he has held since December 2021 and one that sits alongside his current role as Chief Operating Officer of Sprint Capital Partners, the Melbourne based private equity firm founded by Darren Misquitta.
Mr Misquitta has extensive early childhood education and care experience having been a founder and director of Oxanda Education and more recently founder and managing director of Genius Childcare.
Ashok Naveinthiran, who will be replacing Dean Clarke as CEO, is currently CEO of Genius Childcare, a position he has held since January 2022 and is also a partner at Sprint Capital Partners.
“Having already worked closely with the Mayfield team, I am excited to be transitioning across from Genius,” Mr Naveinthiran said.
“It is a privilege to lead the Group through this next stage of growth and to continue to deliver the exceptional level of service enjoyed by the families attending our centres. I look forward to facilitating further acquisitions and unlocking the potential of the Genius incubator pipeline as a pathway to future growth.”
In addition, Mayfield confirmed that Michelle Clarke, a founding board member, has informed the board of her intention to retire from her position but will continue to serve the group as their Quality Improvement Officer.
John Kaminsky, a former Executive Chairman and CEO of Rimfire Pacific Mining and an experienced investor will replace Ms Clarke on the Board.
The announcement of the Board and Senior Leadership changes can be found here.
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