Education and training group Vocation has lost another senior executive following the withdrawal of its Victorian government funding.
Chief financial officer Manvinder Grewal will leave the company in late December, just weeks after former federal education minister John Dawkins quit as chairman.
The company recently lost about $20 million in funding after a Victorian government inquiry found some students had been enrolled in inappropriate and low-quality courses.
Stewart Cummins, the former CFO of waste management firm Transpacific Industries, has joined Vocation as interim CFO, as the company undertakes a restructure to remove third party training providers.
A decision about a permanent CFO will be made in the first half of 2015, Vocation said.
Vocation shares are trading at 18.5 cents, down from the $2.29 they worth before the withdrawal of government funding.
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