Atomos has announced the appointment of Peter Barber as COO and Executive Board Director with immediate effect. This comes only a month after the company announced that Co-founder of Atomos, Jeromy Young was returning as Managing Director and CEO. Jeromy Young was the Atomos CEO for over 10 years and he retired from executive duties in November 2021. Jeromy replaced Trevor Elborne who resigned as CEO of Atomos.
Peter is an industry veteran with over thirty years’ experience in production and post-production, including three years at Apple Computer where he was responsible for the rollout of Final Cut Pro and other video solutions in Asia Pacific. As co-founder and co-owner of Blackmagic Design, Peter played a key role in growing that business and drove the M&A strategy which saw him lead and negotiate the acquisition of seven businesses over an eight-year period.
Although the company’s recent history has been difficult, our customers have continued to support the brand due to the uniqueness of our products and the important role they play in professional video workflows,” he added. “I firmly believe that with time, the right resources, refocused product strategies and the reinvigoration of Atomos’ core DNA with the return of founder Jeromy Young, we will have a very solid basis to grow beyond the company’s previous success. Having known Jeromy for almost 20 years, including working together at Blackmagic Design, we have a very similar view of the video industry and the direction it is headed.
I feel like a founder in the rebirth of Atomos, and I must say that I’m thrilled to be joining and investing in another Australian company that has created a global impact, with a great brand” said Barber, “The immediate focus is to grow sales of Atomos’ world-class products, while strengthening and adding to the product range and technology services available to creative professionals all over the world, with an eye on expanding into adjacent markets
Peter Barber, Atomos COO and Executive Board Director
This appointment is part of a company restructuring and broader recapitalization process, including a return to stock market quotation which will be announced to the market in more detail over the coming weeks.
This is another interesting move by Atomos and it will be interesting to see what direction the company now goes in.
These Board and Executive changes are part of a proposed broader recapitalisation process which will include the lifting of the suspension in trading of the Company’s shares on ASX, further details of which will be announced to the market over the coming weeks.
Above you can see the ASX announcement that was issued on the 4th of January.
Recent board restructuring at the company saw the Chief Financial Officer (CFO), James Cody, resigning to pursue other business interests after almost 7 years at the company. Atomos is still undertaking a comprehensive search process to find a replacement CFO.
In December, Atomos Limited reported earnings results for the full year (which ended on June 30) of 42.76 million AUD which was well down on the previous years sales of 73.28 million AUD. The net loss was AUD 61.06 million AUD which was more than 50 million AUD higher than the previous year.
The Atomos Limited share price currently sits at just 0.065 AU, but the stock was suspended from trading back in early 2023. Above you can see how much the stock price has fallen over the 1.5 years.
