Mike Turner is stepping aside as Allied Minds co-CEO, leaving the executive role to Joe Pignato.
Mike Turner (pictured) has resigned as co-chief executive of commercialisation firm Allied Minds after only six months in the role, the Morning Star reported yeseterday.
The decision leaves Joe Pignato as sole chief executive. Turner will also stand down from the board of directors, although he will remain in some form of management capacity.
Fritz Foley, non-executive director at Allied Minds, has also left to be replaced by Mark Lerdal, executive chairman of investment firm Leaf Clean Energy, while non-executive chair Jeffrey Rohr will retire in June 2020.
The shakeup fulfils the bulk of board changes demanded by Allied Minds’ activist shareholder Crystal Amber, which has led criticism of the firm’s cost structure and inability to pay dividends. Crystal Amber previously helped dismiss former Allied Minds CEO Jill Smith in June 2019.
Pignato has seemingly survived, although forced to reduce his annual bonus to…
