Geelong-based service provider genU appoints new board chair just days after it posted a $10m loss

There has now been a turnover of six genU directors in little more than a year.

These have been more changes at genU. Photo: Alison Wynd.

Geelong-based service provider genU has its third board chair in 12 months as it seeks stability following the unexpected resignation of yet another director.

Just 12 months after joining the board and immediately assuming the chair position, Michael Stanford has resigned, effective immediately.

After earlier flagging his intention to retire after last week’s annual meeting, long-term director Patrick Lockie has now officially departed, meaning there has been a turnover of six genU directors in little more than a year.

The news of the latest departures comes just days after it was revealed that genU posted a $9.7m loss last financial year.

The result was primarily attributed to rising costs and a fall in government funding.

Dr Stanford has been replaced by deputy chair Ingrid Williams, who joined the board at the same time as her predecessor.

Jan O’Keefe has filled the deputy chair position.

In a statement, genU said Dr Stanford’s resignation was his own decision.

The experienced health professional was recently appointed to the board of ASX-listed health company Healius and remains chair of Diabetes Australia.

“I’ve thoroughly enjoyed working with Michael and the other board directors over the past 12 months and immersing myself into genU,” Ms Williams said.

“I’d like to thank Michael for his significant contribution and am thrilled to be stepping up to the role of board chair.”

Ms Williams is an experienced director and has more than three decades of experience in the health services sector.

“We know further changes will be required with industry reforms coming, however we’re optimistic about the future,” she said.

New genU chair Ingrid Williams.

Mr Stanford replaced Stephen Roberts as chair in November last year.

Alongside Dr Stanford and Dr Lockie, other directors who have departed since August last year are Jodi Heath, Bruce McDonald, Peter Langkamp, and Llewellyn Prain.

Chief executive Clare Amies said genU was in a “transformation and growth” period.

As part of that, a recent redundancy round saw 55 jobs go, around half at management level as part of a push towards a more streamlined structure.

“On behalf of the genU executive and staff, I congratulate Ingrid and Jan on these appointments and look forward to working with them,” Ms Amies said.

Last financial year, genU’s revenue fell 3 per cent to $410m.

Almost all of its income stemmed from employment and training services ($255m), and disability and ageing services ($157m).

While down, the revenue figure placed it in the top 30 not-for-profit organisations nationally.

Across Australia, it has 220 offices and approximately 4200 staff, including almost 2000 in the Geelong region.

In the 12 months to June, the organisation provided 1.08m hours of disability service to 5100 people, while more than 4800 candidates were placed in temporary or permanent work and 15,000 job seekers were supported in their efforts to overcome barriers to employment.

Originally published as Geelong-based service provider genU appoints new board chair just days after it posted a $10m loss