Michelle Gallaher has been appointed chief executive officer of ShareRoot. The newly installed board has also flagged a shift in company strategy will be released in the coming weeks.
Gallaher has been promoted from managing director of The Social Science (TSS), a STEM specialist social media marketing agency co-founded by Gallaher and acquired by ShareRoot in April 2018.
She joins a small cohort of women leading Australian publicly-listed companies. Recent research found there are just 11 female CEOs in the ASX 200.
“The board and employees are delighted to welcome Michelle to the CEO role,” said Harvey Kaplan, chairman of ShareRoot. “Michelle is an impressive leader with a compelling vision on how ShareRoot can realise the value of the burgeoning digital and data-driven global economy.”
The leadership change follows the resignation of the previous CEO and entire Board on the 1st February. Commenting on the departure of the board, Gallaher told Which-50, “It was clear from events that the board did not have the confidence or support of a group of major shareholders and exercised their right to resign, making way for a change in the leadership that has been welcomed by most.”
The new board immediately undertook a strategic review and technology audit to determine the health of the organisation and progress against strategic milestones.
“Following the results of the review and technology audit, the board and I have worked quickly to trim the business to conserve cash and shore-up key technology and intellectual assets,” said Gallaher. “What we have now in the business is a dedicated group of exceptionally talented and committed team-players who have enthusiastically embraced the opportunity to sharpen the focus and reset the target.”
Based on the recommendation of the review and audit, the Board actioned a number of structural changes to reduce the cash burn, evaluate and secure technology assets and improve governance. Key outcomes of the review included the shut down of ShareRoot Inc in the US, a reduction in employee headcount by approximately 35 per cent and rationalisation of contractors and service providers.
The company now plans to focus its efforts in the healthcare space.
With over 25 years of experience and deep professional networks in the biopharmaceuticals, medical research, health and medtech sectors, Gallaher is well placed to lead the continued expansion of the company’s service offering via the scaling of TSS and commercialisation of the technology pipeline in key markets.
Gallaher is a recognised advocate for a privacy-by-design approach to digital and data-rich technologies, particularly in healthcare, that if successful, could herald a revolution in the way we research and deliver medicines, services and support.
“Having worked in the organisation for ten months since TSS was acquired, I can see a clear path toward commercialisation of the MediaConsent technology as well as the introduction of other complimentary data and digital technologies in the global healthcare sector,” said Gallaher.
“The plan is to continue to develop TSS to deliver near term revenue, introduce new data and digital technologies to grow our service offering whilst maintaining the pressure on foundation technologies that can genuinely change the way we do health research and provide better healthcare outcomes for patients and their families,” said Gallaher.