CEO of transport software provider set to step down
Tracsis, the Leeds-based transport software provider, has announced that chief executive John McArthur is to step down from the role in the first half of this year.
McArther, who is putting his focus on family and other non-business matters outside the Group, is set to be replaced by Christopher Matthew Barnes on 4 February 2019.
Barnes is the current managing director of Ricardo UK Limited’s automotive consulting division. He has previously fulfilled a number of senior roles within Ricardo plc including managing director of Ricardo Software, new ventures director and global product group director.
Barnes started his career at Ford Motor Company before joining global management consultancy A.T.Kearney. He holds a Master’s degree in Engineering, Economics and Management from the University of Oxford and is an alumnus of Harvard Business School.
Following a handover and transition period, Barnes will succeed McArthur as CEO and will join the board. McArthur will remain as CEO and a member of the board until the conclusion of the transition period.
After stepping down, McArthur will continue to work with Tracsis in a part-time advisory capacity with a remit of advising and assisting on M&A activity.
Chris Cole, non-executive chairman, said: “I would like to pay tribute to John for his exceptional contribution over the past 14 years and what he has achieved for Tracsis and we wish him every success for the future. We are delighted to have secured Chris Barnes to succeed John and I welcome him to the Group. Chris has great sector experience, and his ambition and credentials will be a real asset to Tracsis as we embark on our next phase of growth.”
McArthur added: “It has been my pleasure and privilege to serve Tracsis over the past 14 years and I am proud of what our team has achieved in taking a small University spin-out and developing it into the successful technology company we see today.
“After careful consideration about my own future aspirations, now is the right time to transition out of the business and allow a new leader to take up the reins for our next phase of growth.
As a significant shareholder in a business I helped create, the continued success of Tracsis is of utmost importance to me. My transition comes at a time when the Group is very well positioned for the future, has a clear strategy, a great management team, and a strong pipeline of organic and acquisitive opportunities.”
Chris Barnes, CEO – Designate, also said: “With over 20 years’ experience working across the transportation and software sectors and having completed numerous M&A transactions, I look forward to working with the Board and the management team to continue the growth trajectory and deliver on the numerous organic and acquisitive opportunities open to the business in the coming years.”