Gavin Gomes leaves Canon Australia for CSG

Canon Australia executive general manager Gavin Gomes will be joining CSG Limited (ASX:CSV) as of August 26, focusing on the company’s print and technology business in Australia.

Gomes served at Canon for more than three years and spearheaded several strategies that expanded the business.

Before Canon Australia, he was at Australia Post as its eCommerce, business and parcels general manager for almost four years.

In a statement on the ASX, CSG’s acting CEO and managing director Mark Bayliss said the company looks forward to having Gomes as its executive general manager.

“[Gavin] will be responsible for the print and technology business in Australia. Gavin brings strong experience in achieving operational change and efficiencies,” Bayliss said.

CSG also released its financial results for 2019, reporting a net loss after tax of $1.8 million, an increase from the $150 million loss from the same time last year.

The managed print and print solutions business also reported a revenue decrease of three per cent to $217.6 million.

“We are very pleased with the FY19 result which is the outcome of a significant strategic transformation program rolled out within CSG,” Bayliss said.

“The business was restructured to focus on the SME market, to be the leading technology-as-a-subscription service provider to this sector across Australia and New Zealand. These initiatives are driving improvements in CSG’s financial performance.”

Despite print and display continuing to be a “challenging sales environment” for the company, Bayliss said the underlying EBITDA for the segment increased by $6.6 million, driven by cost efficiencies and a focus on profitable sales.

Bayliss added that there is “still a lot of work to do” for the company to achieve its CSG 2021 program goals, which involved a strategy that included a number of staff changes and an exit from the enterprise market.

“We implemented a new strategy that overhauled our sales and marketing, our customer profitability, our IT systems, as well as a number of changes to our people and culture. These have delivered early benefits and will enable growth in the business going forward,” he said.

Its key strategic priorities for FY20 include improving customer experience, accelerating technology growth and share earnings, improving its cash conversion and working capital efficiencies, and delivering sustainable growth in earnings.

“We enter FY20 as a substantially stronger company, positioned well for further growth, and excited by the growth opportunities we see for this business.

“We… have put in place the foundations for a sustainable future. If we execute, we will achieve double digit percentage EBITDA growth in FY20.”

The company has also appointed Rajarshi Ray as non-executive director to its board.

At the time of writing, CSG’s shares were trading at $0.17.

 

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