Seek co-founder and joint CEO, Paul Bassat, resigns
- 14 October, 2010 09:12
- Comments
Co-founder and joint CEO of online employment site Seek, Paul Bassat, has resigned 13 years after kicking it off as a self-admitted “cash-strapped startup” in 1997.
Seek has been good to him. He has an estimated personal fortune of more than $120 million.
Bassat will depart at the end of the 2011 financial year, leaving his brother and fellow multi-millionaire, Andrew,in charge.
“I have been incredibly lucky to have had the opportunity to spend such a big part of my life at Seek. I continue to be as passionate about Seek and the team here as I have ever been,” Bassat said in a statement.
“However, I have come to the conclusion that it will be hard for me to show the level of enthusiasm for the job itself over the next few years as is required to perform to the best of my ability. As a result, I have made the decision to announce my resignation as joint CEO.”
Seek chairman, Bob Watson, said Bassat was leaving the business in “an excellent position”. It recently achieved an outstanding result in the 2010 financial year, and appears to have good growth prospects.
His brother Andrew – already joint CEO – will take on the role solely. A transition plan has been developed. It is anticipated that Paul Bassat will rejoin the Seek board in 2012 as a non-executive director after an absence of a year.
Prior to co-founding Seek, Paul Bassat was a lawyer for more than half a decade with a leading corporate law firm. He holds law and commerce degrees from the University of Melbourne and is also involved in several community and charitable organisations.
Bassat’s personal fortune was estimated at $98 million in 2006 by Business Review Weekly (BRW) for the magazine’s annual list of Australia’s richest people. His brother was worth about the same.
Seek went public on the Australian Stock Exchange in April 2005.
By 2010, BRW estimated the pair had a joint fortune of at least $248 million.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.
- Bookmark this page
- Share this article
- Got more on this story? Email CIO
- Follow CIO on twitter
-
NBN build gaining momentum daily: Quigley
-
Face Time - Interview with John Brennan and Robert DiStefano
-
Monday Grok: Will Siri crack the walls of GOOG?
-
Face Time - Interview with John Brennan and Robert DiStefano
-
Face Time - Interview with John Brennan and Robert DiStefano
-
Disciplined Agile Delivery: An Introduction
This evaluation guide is designed to help you choose the best tool to support your current Agile projects, while protecting your investment as your team, needs and agile maturity grow. -
Seven Tips for Securing Mobile Workers
Seven Tips for Securing Mobile Workers is intended to offer practical guidance on dealing with one of the fastest growing threats to the security of sensitive and confidential information. -
Protecting Generation Web
From data privacy to personal safety issues, cyber-bullying, inappropriate content and malware, schools are facing an increasingly difficult task when it comes to allowing young people to spread their online wings without compromising their safety and personal development. The reality that most schools are catering to the needs of mixed age groups and abilities, and it’s easy to understand why a simple stop and block approach won’t work. Learning environments are, by nature, flexible. It stands to reason that the IT resources used in them should be flexible too. Read on.
-
Office 2007 for Dummies
-
Windows 7 for Dummies® Dvd+book Bundle
-
Office 2007 All-In-One Desk Reference for Dummies
-
Excel 2007 All-In-One Desk Reference for Dummies
-
Teach Yourself Visually Windows 7
-
MYOB Software for Dummies 6E Australian Edition
-
Windows 7 for Dummies®
-
Computers for Seniors for Dummies, 2nd Edition
-
Windows 7 for Seniors for Dummies®








Comments
Post new comment