Interim CEO to be hired to rescue and rebuild WANdisco
Big data business, WANdisco, which is coping with the fallout of a multi-million pound fraud, intends to appoint Stephen Kelly as its interim chief executive officer – effective from tomorrow. (10 May)
The Sheffield-headquartered company says Kelly has significant experience of complex software and technology businesses underpinned by strong partner and alliance channels and direct sales skills.
Earlier this month, the firm confirmed it would be slashing its global headcount by about 30%.
It is being investigated after millions of pounds worth of false purchase orders were made by one of its senior sales employees. Trading in WANdisco shares has been suspended since 9 March.
Last month, David Richards, co-founder and chief executive, and chief financial officer Erik Miller resigned from the company’s board and leadership team.
Along with Kelly’s appointment as interim CEO, Ken Lever will resume his position as interim non-executive chairman.
Kelly said: “As a passionate champion of UK Tech companies striving to become number one on the global stage, I am excited by the prospect of joining WANdisco.
“I am a firm believer in the potential of WANdisco’s technology to become a market leader and, whilst there is much work to be done, I have relished my previous UK listed turnaround roles and am proud of the successful transformations, profitable growth and value creation they have delivered.
“I believe Ken has started the rescue, recovery and rebuild process well and, as a team, we have the opportunity to build a high-quality, global UK growth business delivering for all stakeholders.”
It is intended that Kelly will serve as permanent CEO when the suspension of the company’s shares can be lifted.
Lever added: “The Board is delighted to have secured someone of Stephen’s calibre and track record to lead WANdisco forward.
“All of us remain squarely focused on advancing the workstreams that are designed to lift the current suspension in WANdisco’s shares and position the company for long term success. I look forward to benefiting from Stephen’s energy and perspectives as we do so.”
Following early career experience gained in the European management team at Oracle, Kelly joined start-up Chordiant in 1997 and served as CEO of this NASDAQ listed business between 2001 and 2005.
He served as CEO of MicroFocus plc between 2006 and 2010, followed by a period as chief operating officer of the UK Government.
Returning to the private sector in 2014, he then served as chief executive of Sage plc until 2018.
