Senetas chairman steps down

Network encryption hardware vendor Senetas (ASX:SEN) has announced the resignation of chairman Alan Stockdale.

Stockdale stepped down on Wednesday in a move he said was part of a “rationalisation” of his business activities.

Senetas CEO John DuBois has stepped in as acting chairman until the board finalises the appointment of a replacement, the company said.

Stockdale had been a non-executive chairman, and therefore has now left the company. He presided over the restructuring of the business from a venture capital fund to a product vendor.

Senetas sells its wares to customers including government, military and law enforcement agencies in 40 countries.

SEN shares climbed 6.67% in Wednesday's trading, but had fallen 3.13% by midday Thursday to $0.031.