Perth-based Steve Willis has been appointed acting chief executive of Millennium Services Group after his predecessor, Craig Hanley, became the sixth director to leave the national security and cleaning company over the past two months.
Mr Willis was formerly the chief executive of Airlite Group, which was bought by Millennium in 2016.
He has worked for Airlite for 25 years, six as chief executive.
Mr Willis joined the company as a cleaner in 1993 before starting his corporate career as special projects manager in 1999, going on to work in HR, risk, and becoming general manager in 2012.
Today’s changes follow a big decline in Millennium’s share price from around $1.40 in March to 44.5 cents currently.
The group announced a loss of $747,000 for the year to June 2018, despite a 12.8 per cent increase in revenue to $282 million.
Mr Hanley said at the time the result reflected a number of short-term and one-off factors.
Since then, there have been several changes to the company’s board including the resignation of five directors - Greg McCormack, Ross Gavranich, Peter Anderson, Sally McCutchan and Stephen Williams.
The company’s newly constituted board announced early this month it would undertake a comprehensive business review.
The review will focus on optimising the company’s financial management and reporting and identify areas of improvement for operational practices, policies, organisational structure and client relationship management.
The company will communicate the review findings and an action plan at its annual general meeting on November 27 2018.
Millennium began as a security services company in 2003 in NSW and has grown to offer cleaning, security and facility management services in Australia and New Zealand.
The company was listed on the ASX in November 2015.
