Software pioneer AppSense replaces CEO
SOFTWARE developer AppSense has replaced its chief executive amid reports of investor unease and its planned IPO in New York is on the rocks.
The Daresbury and New York-based pioneer of virtualisation software has appointed Scott Arnold as its new CEO after the sudden departure of American Darron Antill after two years in the role.
Mr Arnold. who was previously president and chief executive of US-based MarketTools, began his career with business consultancy McKinsey & Company and holds an MBA from Stanford University’s Graduate School of Business.
According to a report on the technology sector website CRB Channelweb, citing an un-named source, the departure of Mr Antill is one of a number of “very sudden and drastic” changes at AppSense, which sold a minority stake to investment bank Goldman Sachs for £46m in 2011.
The source suggested that AppSense has not met Goldman Sachs’ performance expectations, which drove the decision to reshuffle the top management.
Last month the company, which makes remote-access software for big corporations and government departments, reported a 41% increase in sales to £56.1m in the year to June 30 2012.
Newly-filed accounts show pre-tax profits slipped from £3.3m to £2.9m, largely due to a 34% increase in administrative expenses to £43m.
It is known that AppSense halted its plans for a New York listing last year.
