Chariot CEO resigns, court battle with Transocm held off

According to a statement tendered to the ASX, Hersey resigned from his position to take up a senior management appointment in the manufacturing sector.

Chariot’s chairman Peter Buttery will temporarily take over as CEO until a replacement is found, when Hersey leaves his position in January 2008.

The news of Hersey’s resignation comes off the back of an announcement by Chariot, that it was engaged in court proceedings with Transcom (as reported on CRN in September 2006.

In September 2006, Transcom Australia and its parent company, Transcom International (TCI), filed a $3.2m claim in the Supreme Court of Queensland against Chariot and its two directors Peter Buttery and Robert Horlin-Smith for an alleged breach of contract and other alleged misconduct.

A default judgment was set aside on 5 December 2007, with an order from the Court that Transcom International pay the costs of and incidental to the application, including reserved costs on a standard basis.

Chariot and Horley-Smith strongly deny Transcom's allegations.

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