Andy Davies, incoming CEO, Armaguard ITS
Linfox Armaguard is undergoing an overhaul.
“We have established two ‘operational boards’ – Cash in Transit, and ITS and ATS” Mick Cronin, the Armaguard CEO announced on LinkedIn yesterday.
These operational boards will be “implemented over the coming months” Cronin said.
Armaguard has come under intense scrutiny over the last year or, and especially over recent months, via takeover of its only significant rival Prosegur, giving it a markets share in the order of 90 per cent.
And, subsequently, its trading difficulties, giving rise to a funding support package from major banks, retailers and Australia Post.
“That agreement, together with the merger with Prosegur, the potential sale of our NZ business, the possible integration of the international businesses, and the separation of our security business into its own entity, means we now need an even stronger focus on the cash in transit and ATM and ITS businesses to fully realise our organisational transformation to provide a more sustainable and secure industry for the people of Australia” Cronin said.
Matt Caulfield will be CEO – Cash in Transit.
Andy Davies will be CEO – ITS and ATS.
Once these boards are in place, Mick Cronin said he will be leaving the Linfox group.