Story image

Weldon resigns from Diligent board, leaving company with compliance gap

09 Apr 15

Mark Weldon, former NZX chief executive, has resigned as a director of Diligent Board Member Services, effective tomorrow, leaving the governance software developer temporarily in breach of NZX listing rules.

Weldon's sudden departure comes after the New York-based company this month named Brian Stafford as president and chief executive, replacing Alex Sodi, who would become 'chief product strategy officer'.

As a condition of its NZX listing, Diligent is required to have two directors resident in New Zealand and the company said today it expects to name a replacement for Weldon shortly after its annual meeting on April 28.

Until then, "there will be a short period of time where the company will be out of compliance," it said.

Weldon said in the statement that Diligent "has a great product set, a very strong market position, and is now very well placed to grow."

Shares of Diligent last traded at $5.60, valuing the company at about $490 million. The shares have gained 16 percent in the past 12 months.

How blockchain will impact NZ’s economy
Distributed ledgers and blockchain are anticipated to provide a positive uplift to New Zealand’s economy.
25% of malicious emails still make it through to recipients
Popular email security programmes may fail to detect as much as 25% of all emails with malicious or dangerous attachments, a study from Mimecast says.
Human value must be put back in marketing - report
“Digital is now so widely adopted that its novelty has worn off. In their attempt to declutter, people are being more selective about which products and services they incorporate into their daily lives."
Wine firm uses AR to tell its story right on the bottle
A Central Otago wine company is using augmented reality (AR) and a ‘digital first’ strategy to change the way it builds its brand and engages with customers.
DigiCert conquers Google's distrust of Symantec certs
“This could have been an extremely disruptive event to online commerce," comments DigiCert CEO John Merrill. 
Protecting organisations against internal fraud
Most companies tend to take a basic approach that focuses on numbers and compliance, without much room for grey areas or negotiation.
Telesmart to deliver Cloud Calling for Microsoft Teams
The integration will allow Telesmart’s Cloud Calling for Microsoft Teams to natively enable external voice connectivity from within Teams collaborative workflow environment.
Jade Software & Ambit take chatbots to next level of AI
“Conversation Agents present a huge opportunity to increase customer and employee engagement in a cost-effective manner."