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Solution 6 Chief Resigns

[May 15] -- Financial software developer Solution6 chief executive Chris Tyler has announced his resignation, effective immediately.

According to a company statement released to the Australian Stock Exchange, Tyler and the Solution 6 board agreed it was in the best interests of shareholders that he resign.

The chairman of Solution 6 Holdings, Brendan Redden, announced the decision, which leaves the company's chief operating officer, Lindsay Yelland, as acting chief executive and managing director until the company finds Tyler's replacement.

The company said 25 per cent stakeholder Telstra remained committed to the company despite Tyler's resignation. "Telstra has informed the board that it continues to remain a firm believer in Solution 6, its people, strategy and future,'' Solution 6 said.

The company has also announced that Tyler will receive options of up to 10 per cent of the company's total shares on issue, totalling around 10,888,454 options, following his resignation.

On leaving, Tyler has six months and 14 days in which to vest those options.