eg solutions rocked by chairman and CFO resignations
THE chairman and chief financial officer of Staffordshire-based back office software supplier, eg solutions have both quit the firm just days after it braced shareholders to expect a lower-than-expected first half.
Two other directors have also quit the Dunston-based firm, heralding a major board shake-up.
The AIM-listed company confirmed the departures in an announcement to the London Stock Exchange this morning.
It said CFO Jonathan Kay, non-executive chairman Duncan McIntyre, plus non-executive directors Mark Brady and John Brougham had all tendered their resignations.
Mr Kay will remain with the firm for the time being to assist with the transition but the other three have left the business with immediate effect.
While not alluding to the circumstances surrounding their departure, the company said it expected to announce the appointment of current Gateley chairman Nigel Payne as its new non-executive chairman in due course, subject to its nominated adviser’s due diligence checks.
Mr Payne has more than 30 years’ experience as a director of both publicly listed and private companies. He has extensive expertise with listed companies, notably in his current roles as chairman of Birmingham-based law firm Gateley.
He is also non-executive chairman of Stride Gaming, director of Gama Aviation and was previously CEO of Sportingbet. Sportingbet was one of the world’s largest internet gambling companies and made a number of acquisitions whilst listed on the London Stock Exchange (both FTSE listed and AIM quoted).
Commenting on the situation, Elizabeth Gooch, CEO of eg solutions, said: “The board would like to take this opportunity to thank Duncan, Mark, John and Jonathan for their contributions to the company and wishes them well with their future endeavours.
“We are delighted that Nigel is intending to join us as our new chairman. Nigel will bring highly relevant experience in the technology and capital markets industries which will enable him to make an excellent contribution to the board at an exciting time for the company. It is a vote of confidence that he intends to be a part of our team and we look forward to working with him.”
