Gavin Gomes, the former executive general manager at Canon Australia, has been named the new executive GM at ASX-listed managed print business CSG, where he’ll be responsible for Print and Technology operations in Australia.
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| Gavin Gomes, new executive GM at CSG |
Gomes was previously Group Executive Director, Canon Australia and a key member of Canon’s Oceania Group leadership team for the past 3 years. He has over 20 years of experience in executive leadership roles with IBM, Procter & Gamble, Telstra and Australia Post.
News of the appointment came in CSG’s FY2019 financial results presentation to the ASX, which showed revenue down three percent to $217.6 million, while EBITDA improved to $12.7 million compared to a loss of $151 million last year. Net loss after tax was $1.8 million, compared to a loss of $150.1 million in FY18.
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| Mark Bayliss, acting CEO & MD CSG |
“We are very pleased with the FY19 result which is the outcome of a significant strategic transformation program rolled out within CSG,” said CSG’s Acting CEO & managing director Mark Bayliss. “The efforts the team has taken to reposition the Company are showing early benefits, and importantly, we continue to build a stronger and more sustainable CSG.”
Bayliss welcomed Gomes to the team. “We are delighted to announce that Gavin Gomes will be joining us as Executive General Manager, Australia on 26 August 2019. Gavin was previously the Executive General Manager at Canon Australia, and at CSG will be responsible for the Print and Technology businesses in Australia. Gavin brings strong experience in achieving operational change and efficiencies.”
CSG also announced the appointment of Harold Melnick as its new GM Marketing, and strengthened its Board with the appointment of Rajarshi Ray as a Non-Executive Director “Raj joins CSG with a wealth of experience in the finance and information technology sector with a specific focus on SME and subscription-based segments,” said Bayliss.
“We look forward to Gavin’s, Harold’s and Raj’s contribution to the ongoing CSG 2021 transformation program, which has seen a significant cultural shift in the business. 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 & New Zealand. There were a number of personnel changes, including several key board and management appointments, and there was further investment in our sales capabilities and technology offering.
“These initiatives are driving improvements in CSG’s financial performance. Quality of revenue is improving with a focus on generating profitable revenue, underlying earnings grew substantially, the balance sheet has been strengthened following the capital raising that was completed earlier in the year, and cash generation was significantly improved.”
Although Print and Display continued to be “a challenging sales environment”, underlying EBITDA for the segment increased by $6.6 million to $11.7 million, driven by cost efficiencies and a focus on profitable sales.
“A significant amount of work has been completed over FY19, and there has been substantial change within CSG,” said Bayliss.” 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 people and culture. These have delivered early benefits and will enable growth in the business going forward.”
