New CEO for K3

SALFORD-based K3, the listed business which provides software and managed services to the retail, manufacturing and distribution sectors, has appointed Adalsteinn Valdimarsson as the chief executive.

Adalsteinn, who joined K3 in July as a non-executive director, will take up his new position in  October.  

At the same time current chief executive David Bolton will step up to assume the role of executive chairman and Lars-Olaf Norell will return to the position of non-executive director.

Adalsteinn has over 20 years’ experience in the software industry and has founded and led the expansion of a number of product-based software companies.

David Bolton, chief executive, said: “On behalf of the board, I am delighted to welcome Adalsteinn as the company’s new chief executive officer. Adalsteinn’s experience in the software sector, especially in driving IP strategies, is significant, and he takes up his new role at a particularly exciting time for the group, with prospects looking very encouraging – as we reported at the time of our full year results in mid-September.

“On behalf of my colleagues, I would also like to thank Lars-Olof Norell for his stewardship of K3 as interim chairman.”