Change of chairman for eg solutions
STAFFORDSHIRE financial software supplier eg solutions has announced the appointed of a new non-executive chairman.
The Dunston firm said John Anthony O’Connell had replaced Rodney Baker-Bates with immediate effect following his decision to step down. Mr O’Connell will also chair the firm’s remuneration committee.
Mr Baker-Bates, who is staying on as a non-executive director and will also join the audit committee, said: “I have been chairman of eg Solutions and a significant shareholder since the company floated on AIM in 2005.
“The company is in excellent shape and following the recently announced deal with Aspect Software, now is the right time for me to step down. I would like to thank my colleagues for a most rewarding time as chairman, particularly Elizabeth Gooch whose leadership has been crucial to the company’s achievements. I look forward to continuing in my new capacity.”
Mr O’Connell, 67, is a London-based technology entrepreneur, who founded, floated and sold one of the leading software companies in the UK and is now focused on helping create other world-leading UK-based software companies.
Since 2005, Mr O’Connell has been chairman of a number of software companies, currently Active Navigation, Helveta, Mtivity and Opta Sports Data. Previously he was chairman, inter alia of AIM-listed Portrait Software (2005 to 2010), previously having led the sale of Staffware in 2004.
Mr O’Connell founded Staffware in 1984. Staffware was a pioneer and then became global leader in the workflow and business process management software industry. Staffware listed on AIM in 1996 and then went onto the main LSE market in 2000. As chairman and CEO he led the sale to Tibco Software Inc. for $260m in June 2004 when Staffware had offices in more than 20 countries. The sale to Tibco was at a premium to the pre-announcement market price of 46%.
He said: “My goal is to help create another software world champion in the UK, emulating Staffware’s success. eg solutions has developed software and products which are now recognised as leading the rapidly emerging back office optimisation market and I am confident that the company has the potential to be such a world champion with the consequent returns for its stakeholders.”