New MD for troubled CommSoft

CommSoft, which lost more than A$6 million in the half-year ended December, has been beset by problems with outstanding debts. Provision for doubtful debtors stood at more than A$4 million in the interim accounts.

In a bid to turn around the company's fortunes it has announced it has appointed former gen-i chairman, Mark Lunt, to the position of group managing director, based in New Zealand.

CommSoft chairman, Greg Gardiner, says Mr Lunt's background in international software marketing is just what the company needs.

"He has experience in managing large and geographically dispersed organisations and over his career has repeatedly demonstrated an ability to grow organisations, develop markets and manage businesses profitably."

CommSoft says Mark Lunt's first priority will be to assess the company's cashflow requirements, distribution arrangements and operational procedures.

"As soon as this information is available directors will make a further announcement," says Mr Gardiner.

The company says Geoff Wilding, the company's existing CEO, will no longer have any executive role within the company.

Mr Lunt says CommSoft is faced with a number of significant opportunities,

"In NetMaster, CallMaster and Vantage it has a very strong product set in a fast growing market sector. To support that base strength the company also has a strong line up of talented people and good international distribution channels in place.

"I'm very focussed on transforming those advantages into business success."

Last week tech investor Strathmore (NZSE: SMR), which has seen the value of its stake in CommSoft drop significantly, said the introduction of new senior management to CommSoft would play a major role in lifting CSG's share price, which has fallen from a dollar at the start of the year to under 20 cents.

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