Directorate Change

RNS Number : 5856G

Gresham Computing PLC

05 March 2015

 

5 March 2015

Gresham Computing plc
("Gresham" or the "Company")
Board Changes 

Gresham, the leading software and services company that specialises in providing real-time financial transaction control software to the global matching and reconciliation market, announces the following board changes:

In October 2010, the Board set a long term objective for Gresham to be recognised as a market leader in real-time financial transaction control in order to drive profitable growth and build shareholder value.  We have been executing a strategic plan to achieve this objective built around developing, selling and supporting a leading matching and reconciliation software developed by Gresham and called Clareti Transaction Control ("CTC"). 

We have made significant progress with this strategic plan: developing a market leading and viable product in CTC, creating an operational platform to deliver growth, winning a high quality base of global CTC customers and building a valuable new CTC recurring revenue stream. 

The Board believes there is now a significant market opportunity to accelerate the growth of CTC and to realise our vision of becoming a market leader in real-time financial transaction control. In order to capitalise on this opportunity, the Board has decided it is appropriate to introduce new skills and experience to lead the Company through the next phase of its growth.

Accordingly, the Board is pleased to announce the appointment of Ian Manocha as Chief Executive Officer, such appointment to be effective 1 June 2015.

Ian is currently head of the high-growth portfolio of businesses at SAS Institute Inc., a global leader in business analytics software and services with revenues exceeding $3bn.  Ian is responsible for all aspects of this business unit, with 200 staff in international operations from sales and marketing to delivery and development.  Ian also has direct responsibility for the SAS Advanced Analytics business.

Prior to this, from 2007, Ian was country head of SAS's largest global subsidiary (UK and Ireland), where he was responsible for a staff of 700, and during which time he was also a member of the EMEA Executive Board.  Since joining SAS in 1996, Ian has held a range of sales and management roles as he progressed through the business, including: Senior Sales Director EMEA and Asia Pacific Operations (during which time he was Chair of the Global Sales Leadership Council); General Manager, Financial Services, EMEA (during which time he was also Director of the SAS Worldwide Fraud Practice); and Sales Director UK and Ireland.

Chris Errington, the Company's current Chief Executive Officer, will remain in office until Ian's appointment becomes effective on 1 June 2015, when he will step down from his current role and remain on the Board as a non-executive director.

There are no matters concerning Ian Manocha's appointment that are required to be disclosed pursuant to Listing Rules 9.6.13 (1) to (6) inclusive.

Ken Archer, Chairman Gresham, commented:

"I am delighted that we have secured someone of Ian's calibre to join Gresham at this exciting time.  Ian is a well-respected software executive with a proven track record of successfully taking software businesses and growing them to significant scale, both in an executive leadership and sales capacity.  He is an ideal appointment to advance our strategy and deliver rapid growth. 

Chris has been instrumental in Gresham's progress and achievement of our strategic plans.  I would like to take this opportunity to thank him for all he has contributed to the Company during his tenure as CEO and I look forward to working with him from June in his new role as a Non-Executive Director as we continue to execute on our strategy.

We have made a strong CTC-led start to 2015 and I look forward to updating shareholders further when we release our final 2014 results in late March."

- Ends -

For further information please contact:

Gresham Computing plc Ken Archer, Chairman Chris Errington, CEO Rob Grubb, CFO	[phone]
N+1 Singer Shaun Dobson, Head of Corporate Finance Emily Watts	[phone]

 

END

 

 

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