In a new development for the Australian craft beverages accelerator, an ASX announcement has revealed Chris Malcolm has not been re-elected to the Board of Mighty Craft, leaving the position vacant.
The results of the recent Annual General Meeting of Might Craft held yesterday, Tuesday, 14 November 2023, have left Malcolm without a role in the beverage business.
This new twist occurred as one of his appointees to the Board, Katie McNamara, was appointed to her new position as managing director effective immediately.
McNamara’s appointment came after the Australian spirits and beer brand owner shook up its board of directors to embark on a strategic review of its business led by Malcolm. He brought along with him senior alcohol beverage executive McNamara and former brewing executive Trevor O’Hoy.
The former Australian Whisky Holdings CEO, Chris Malcolm, was appointed to the board of directors as non-executive chair in May 2023 and undertook a strategic review of the company to reduce debt and review structure following the business’s increase in debt facility with Pure Asset Management of $20 million.
In an ASX announcement posted yesterday, it was noted the ‘election of Mr Chris Malcolm not being carried at the AGM, the remaining Board members, managing director, Katie McNamara and non-executive director, Sean Ebert, are currently evaluating options to appoint an appropriate additional Director to fill the casual vacancy.”