Victor Aghtan has resigned from his position as director of digital services company, Hyro Limited’s (ASX: HYO).
However, he remains a major shareholder of the company.
Aghtan had been served on the board for the past four years after being appointed via the acquisition of Synergy Software Holdings Limited in May 2007.
Hyro most recently signed a $4 million agreement with wagering and media company, Agility Interactive, to develop components for its online wagering products.
It faced a $1.5 million and 50 per cent revenue loss, that was reflected in its half-yearly results in September 2010.
The company settled the $8.5 million legacy debt for a cash payment of $1.2 million with the Australian Taxation Office.