Tracsis taps Christopher Barnes to take over as CEO

Software and services outfit Tracsis has tapped Ricardo's Christopher Barnes to be its next chief executive after long-standing boss John McArthur informed the board of his intention to step down from the role.

McArthur, who will continue to work with Tracsis in a part-time advisory capacity, was set to vacate the role he took on back in 2005 at some point "in the first half of 2019" in order to focus on family and "other non-business matters" outside the group.

Non-executive chairman Chris Cole 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."

Barnes, currently the managing director of Ricardo UK's automotive consulting division, will join the AIM-listed firm as chief executive - designate on 4 February before fully taking over from McArthur after "a suitable period of handover" - which is expected to last "several months".

Prior to his current role, Barnes was managing director of Ricardo Software, and before that new ventures director and global product group director, following stints at management consultancy AT Kearney and his start at Ford.

"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," added Cole.

As of 0825 GMT, Tracsis shares had slipped 1.61% to 598.20p.