Booktopia founder Nash launches bid to remove board directors who ousted him 

Booktopia founder Tony Nash has launched a bid to remove two non-executive directors who ousted him from the company’s executive management earlier this year.

Nash resigned from his role as c.e.o. in May after a poor third quarter saw earnings at the Australian online retailer plummet. He was expected to stay on as c.e.o. until a successor was found, and had intended to stay on in an executive role overseeing the group’s strategy, but in July the board gave Nash notice to step away and said he would serve his six-month notice period “out of the office”.

Booktopia reported on 18th August that Nash had used his substantial shareholding to requisition a shareholder meeting to remove two non-executive directors, including chairman Chris Beare.

His proposal also called for the removal of Su-Ming Wong as director of the company and anyone appointed as a director of the company between 17th August to the end of the meeting, except for Abigail Cheadle.

Booktopia has said it will make further announcements in relation to the extraordinary general meeting in due course.

Geoff Stalley is currently interim chief executive until a new one is selected via a search process currently underway.