The founder of the nation’s largest bookseller pledged not to return as CEO but says he will be deeply involved in the appointment of a new board and CEO for the struggling online bookseller.
Booktopia’s ousted chief and founder,Tony Nash,is planning to remove the directors who removed him from the company last month.
Tony Nash was sacked this week amid the fallout of an investigation by The Age and Sydney Morning Herald into how the group fell out of favour with the investment community.
The depature comes after an investigation by The Age and The Sydney Morning Herald revealed how the group had fallen out of favour with investors.
Tony Nash,the founder of the country’s biggest online bookseller took to the social media platform LinkedIn to respond to an article in The Age and Sydney Morning Herald that delved into the problems the company is facing.
Booktopia has problems that go beyond a shift in consumer behaviour after the pandemic,with concerns about the leadership and loss of investor trust.
For the founder of Australia’s biggest online book retailer,books are something he listens to rather than reads.
In the midst of the Christmas rush,the online retailer is facing legal action brought on by the consumer watchdog.
Online bookseller Booktopia has smashed analyst expectations just months after its debut on the ASX.