Software Circle makes several board changes
Software Circle
18.57p
10:50 19/09/24
Software Circle announced significant changes to its board of directors on Wednesday, as it held its annual general meeting in Manchester.
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12:44 19/09/24
The AIM-traded firm said Jan Mohr had resigned as chairman, effective immediately, in a move previously communicated to shareholders.
Matthias Riechert, formerly a non-executive director, had been appointed as the new chairman of the company.
Simon Barrell, also a non-executive director, would assume the role of senior independent director.
In addition, Brad Ormsby had joined the board as an independent non-executive director.
The company said Ormsby would bring extensive experience from his current position as chief financial officer of Judges Scientific - an AIM-listed manufacturing group that had seen significant growth during his nine-year tenure.
Marc Maurer had also been appointed to the board as a non-executive director, and would serve as the designated representative of Chapters Group, Software Circle's largest shareholder.
Maurer is the chief operating officer of Chapters Group, and has a background in operational leadership roles at Constellation Software and Revalize.
Conrad Bona would meanwhile step down from his position as non-executive director due to his length of service on the board.
The board changes were said to be part of Software Circle's ongoing strategy to strengthen its leadership team and position itself for future growth in the software industry.
“We are immensely grateful to Jan and Conrad for their invaluable contributions and leadership over the years,” said chief executive officer Gavin Cockerill.
“They have both been instrumental in guiding the company through significant change and strategic milestones.
“As we welcome Brad and Marc to the board, we are excited about the wealth of talent, experience and fresh perspectives they bring to our newly configured NED squad.”
Cockerill said Ormsby’s expertise in finance, mergers and acquisitions and the AIM market, combined with Maurer’s operational leadership at Chapters, would strengthen the firm’s strategic direction as it continued its aim to become a growing serial acquirer of VMS businesses.
“We're delighted also that Matthias, who has been an integral part in helping to reshape the group to date, will take the chairman's 'arm-band'.”
At 0839 BST, shares in Software Circle were up 2.78% at 18.5p.
Reporting by Josh White for Sharecast.com.