US private equity giant Thoma Bravo is wielding the axe at Nearmap only a few months after taking control of the business, making 20 per cent of staff redundant, as CEO Rob Newman resigns.
Heads are rolling at formerly ASX-listed aerial imaging software company Nearmap less than three months after it was acquired bythat chief executive Rob Newman had resigned, chief financial officer Penny Diamantakiou had left the company, and chief operations officer Andy Watt would become CEO.The chief marketing officer, Harvey Sanchez, is also understood to be leaving.
They were asked to work from home so that Nearmap leaders could utilise all the company’s meeting rooms following the update for individual conversations. Institutions who were known to have voted against included Jencay Capital, Sterling Equity, Lakehouse Capital and Anacacia Capital.
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