FirstWave CFO gets retrenched by mutual agreement

FirstWave Cloud Technology has announced that CFO and company secretary Iain Bartram has been retrenched from his role following mutual agreement.

The retrenchment marks the final step in FirstWave’s corporate restructure, which positions the company to focus on the development and sales of AI-driven compliance management solutions and monetisation of the estimated 150,000 organisations using FirstWave’s free Open-AudIT product.

The company said it believes it is well-positioned heading into FY26, having secured $2 million in sales since June and reporting a $9,000 cash usage from operating activities for FY25 in what FirstWave describes as a "key milestone" as it moves towards cash flow positivity.

Bartram will serve a three-month notice period; FirstWave has begun a search for a fractional CFO and the company secretarial services will be transitioned to Emily Austin, a company secretary and a senior manager at Automic Group.

Tony DePolignol, FirstWave 's GM of commercial operations, has been appointed to the Executive Leadership Team, reporting directly to the MD and CEO Danny Maher.

Additionally, the company is planning to employ a Chief Revenue Officer.

"Iain has played a pivotal role during a critical period in FirstWave’s transformation," said Maher.

"His leadership has helped lay the foundation for our growth-focused strategy, and we wish him every success in the future.

"Reflecting on my time at FirstWave, I’m proud of turning obstacles into measurable progress — strategic M&A, fund raising and cashflow management that positioned the company for growth," said Bartram on LinkedIn.