Braveheart’s boardroom shake-up continues

Perth-based investment group Braveheart has announced the departure of another board member.

The news that chief investment officer Carolyn Smith will step down follows last month’s announcement that CFO Aileen Brown had left the firm and her duties taken on by financial controller Jennifer Kennedy and company accountant Kevin Brown.

Ms Smith, who has been with the business since 2000, will leave at the end of July and her duties will be taken on by other members of the firm’s investment team.

Chief executive Geoffrey Thomson will take overall responsibility for the investment function.

Mr Thomson said the Perth company has been working on the changes for several months and expects to realise a saving of £350,000.

He said: “This announcement completes the restructuring of the head office function, something we have been working on since late last year. The result is a leaner, fitter business, with operating costs reduced by approximately £350,000. I would like to thank Carolyn Smith for her hard work and devotion to the Company over many years.”