Spenda Ltd (ASX:SPX) has announced that managing director and CEO Adrian Floate has resigned from his role due to personal health reasons. The board thanked him for a decade of leadership that steered the company through its IP commercialisation strategy and the global pandemic and culminated in record FY25 revenue of approximately A$12 million.
To ensure continuity, chief operating officer Corrie Hassan has been appointed interim CEO, while chief commercial officer Francis DeSouza will join the board as executive director. The existing executive team will continue overseeing daily operations and strategy.
Chairman Peter Richards praised Floate’s contribution over the past decade, citing his vision and leadership during critical phases.
“The board of directors and I would like to thank Adrian for his drive and vision over 10 years and wish him well for the future. We also welcome Francis to the board and congratulate Corrie on her elevation to the interim CEO role,” Richards said.
Interim leadership arrangements
Effective immediately, Corrie Hassan assumes the role of interim CEO, taking charge of operational responsibilities.
Hassan brings more than 30 years of international experience in business finance, with expertise in risk management and operational leadership. Her track record includes co-founding an asset finance company acquired by Spenda in 2021 and serving in senior roles at an ASX-listed organisation for 12 years, including as managing director.
Francis DeSouza, Spenda’s chief commercial officer, will step onto the board as executive director. He will assume responsibility for commercial, corporate and financial functions. The company emphasised that business operations and strategic initiatives will continue without disruption.
The executive team reaffirmed its commitment to executing Spenda’s growth strategy. Key priorities include the rollout of its Software-as-a-Service (SaaS) product suite — SwiftStatement, Carpet Court SOE, and credit-based supply chain lending via APG Pay. These remain central to the company’s vision of building a leading integrated business and payments platform.
About Spenda
Spenda is an integrated business platform combining software solutions with embedded payment processing across supply chains. Its technology enables businesses to streamline operations, improve reconciliation and access supply chain financing.
The company generates revenue from software-as-a-service, business-to-business and consumer payments, and supply chain finance. By capturing transactions throughout the value chain, Spenda provides clients with customised financing solutions that enhance working capital and cash utilisation.