Web Travel Group CFO withdraws resignation plans

Web Travel Group (ASX:WEB) announced that CFO Tony Ristevski has withdrawn his resignation and will remain in his position, cancelling his planned move to electronic conveyancer PEXA (ASX:PXE).

The strategic pivot comes amid a period of intense scrutiny for the B2B accommodation inventory business, which is currently undergoing an audit of its Spanish operations by the Spanish Tax Agency’s Special Delegation of the Balearic Islands.

Originally scheduled to step down in May to "pursue another opportunity," Mr. Ristevski’s decision to stay was framed by leadership as a move to ensure stability during a critical expansion phase.

Web Travel Group managing director John Guscic emphasised the necessity of maintaining stability, noting that "continuity and deep institutional knowledge are important as we execute our growth strategy."

Guscic added that both the board and Ristevski agreed remaining in the role is in the company’s "best interests."

Ristevski echoed this sentiment, stating that further discussions regarding the company's future plans solidified his commitment to the firm.

Meanwhile, PEXA announced that Liz Warrell, appointed acting group CFO on Aug. 1, will continue in the role until a permanent successor is finalised.

The reversal ensures that Web Travel Group retains seasoned leadership at a pivotal time for its international operations and market positioning.

At the time of reporting, the share prices of Web Travel Group and PEXA Group were $3.07 and $15.47, respectively.