CEO appointed as turnaround gathers pace

Harrogate IT services business Redcentric has appointed a new chief executive.

Chris Jagusz will take over from previous CEO Fraser Fisher on 16 October. Jagusz has over 25 of experience in the telecoms and managed services industry, delivering growth and business transformation. Jagusz was chief executive of Azzurri Communications and prior this was managing director of SSE Telecoms.

The firm is in the midst of turnaround and also issued a trading update for the six months to 30 September, which showed is has reduced the net debt position to £33.3m; ahead of management’s expectations.

Chris Cole, Chairman, said: “We are delighted to be able to announce the appointment of Chris as Chief Executive.  He has an outstanding track record both in telecoms and as a business leader.  The Board are confident he is the right person to take Redcentric forward.”

In November 2016, the firm was rocked by the announcement of financial misstatements and an investigation by the Financial Conduct Authority, which was remedied with significant investment in its financial department and the appointment of Peter Brotherton as CFO.

The Company will report its interim results on 29 November.