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The latest update is out from ReadCloud Ltd. ( (AU:RCL) ).
ReadCloud Limited has announced a leadership transition, with Chief Executive Officer Andrew Skelton to step down on 31 May 2026 after three years in which he reshaped the business, sharpened strategic focus, and restored financial discipline. Chief Financial Officer Luke Murphy, a key architect of the company’s capital rigour since 2017, will assume the role of Interim CEO from 1 June 2026 while the board conducts a formal search for a permanent chief, and Skelton will stay on as a consultant for three months to ensure a smooth handover.
Under Skelton’s tenure, ReadCloud became operationally self-funding, returned to positive EBITDA, and delivered strong growth in its schools divisions, including double-digit increases in Australian direct eBook sales and VET-in-Schools revenue, record quarterly cash receipts, and high customer retention. The board has classified Skelton as a good leaver, with his equity incentives remaining subject to future performance, and is seeking a leader who can build on the strengthened two-division structure and recent momentum to capture further growth opportunities, as Murphy receives a temporary fee uplift for his expanded responsibilities.
More about ReadCloud Ltd.
ReadCloud Limited is an education technology company listed on the ASX that provides a proprietary eBook platform giving students and teachers seamless access to global educational resources, making curriculum content more engaging and simplifying textbook procurement. The company also offers VET-in-Schools services, delivering nationally recognised vocational programs and tailored support to more than 400 secondary schools in Australia and overseas, with a focus on inclusive, future-focused learning.
Average Trading Volume: 64,897
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$11.98M
Find detailed analytics on RCL stock on TipRanks’ Stock Analysis page.