A woman who headed a one-time tech darling that specialised in software for one-page resumes is insisting she will not have to draft up her own CV.
Joanna Riley, the chief executive officer of struggling Silicon Valley group 1-Page, has taken the unusual step of "clarifying" a statement by the company about her "resignation".
Ms Riley, a former elite college rower based in the tech hub of San Francisco, sought to soothe investors' concerns about her stepping down as CEO to become an executive director of the company that makes HR software in an announcement to the Australian Securities Exchange on Thursday.
Her missive, described as a "supplementary disclosure", followed a separate statement released by the board of the company two days ahead of Christmas entitled "CEO Resignation and Appointment".
"I wanted to reach out to you directly to offer context and clarification to a release made on the Australian Stock Exchange on December 23 by our board of directors," Ms Riley's statement said.
"My new role within the company is a development I am personally very excited about but the timing of this recent release has caused some confusion.
"As president, founder and executive director I will continue to work tirelessly to ensure that our product and sales development remains at the intersection of a tremendous market opportunity and our enterprise client needs."
Recently appointed chief financial officer Peter Kent will assume the role of CEO.
The changes come just weeks after Ms Riley's father – a co-founder of the business and the man behind a bestselling book The One-Page Proposal – sold a large portion of his shares in the company and stepped backed from his day-to-day duties at the group.
Andrew Chapman, the managing director of significant shareholder Merchant Funds Management, was surprised by the announcements.
"It's a comedy of errors. It's farcical," Mr Champan said.
"It's clear the Riley family are voting with their feet.
"I don't know how this is reducing the cash burn rate or streamlining the business."
The confusion is partly linked to the statement coming from the company at a time when 1-Page is in crisis.
After listing at 20¢ a share in October 2014, 1-Page was billed as a big time tech success when its shares soared to $5.69 eleven months later.
Despite having no business in Australia, the company chose a backdoor listing on the ASX because of the opportunities the Australian market gave the company.
The listing also meant that 1-Page no longer had to run the gauntlet of raising money from technology-based venture capital firms in the US.
Yet despite all the hype that led to the company reaching a valuation of $762.2 million, 1-Page has failed to deliver on investor hopes. Its revenue from the rendering of its services for the six months ending July 31, 2016 was $522,687. Its shares were trading at 18¢ on Thursday.
1-Page is facing a challenge from Merchant Funds Management which has requisitioned a meeting of the company to vote on the removal of several board members and a restructure of the company.
Under Merchant's current proposal, Ms Riley will stay on as a board member and be able to cash out her shares and retain the intellectual property of the 1-Page business.
Merchant believes 1-Page is not suited to the ASX and that its $34 million in cash reserves should be used for business in Australia.
A meeting for shareholders will be held on February 17.