Network encryption hardware vendor Senetas (ASX:SEN) has announced the resignation of chairman Alan Stockdale.
Stockdale stepped down on Wednesday in a move he said was part of a “rationalisation” of his business activities.
Senetas CEO John DuBois has stepped in as acting chairman until the board finalises the appointment of a replacement, the company said.
Stockdale had been a non-executive chairman, and therefore has now left the company. He presided over the restructuring of the business from a venture capital fund to a product vendor.
Senetas sells its wares to customers including government, military and law enforcement agencies in 40 countries.
SEN shares climbed 6.67 per cent in Wednesday's trading, but had fallen 3.13 per cent by midday Thursday to $0.031.