Tourism Holdings (NZE:THL, ASX:THL) revamped its executive team and laid off dozens of employees as part of previously announced cost-reduction measures, according to a Friday filing with the Australian and New Zealand bourses.
The company appointed Ollie Farnsworth to the newly combined roles of chief financial officer and chief people and transformation officer, the latter being his current title. Farnsworth will assume his new position on Jan. 1, 2025. As a result, CFO Cameron Mathewson will leave the company at the end of 2024.
Meanwhile, the recreational vehicle rental operator disclosed that it has cut its manufacturing headcount in Australia by around 100 roles and reduced "several" support office roles in the US. The latter is expected to create full-year run rate savings of more than NZ$500,000 per year.
The company continues to target net profit after tax cost savings of NZ$12 million by fiscal 2027.
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