Board Changes

RNS Number : 5212Y

K3 Business Technology Group PLC

27 January 2014

 



AIM: KBT

K3 BUSINESS TECHNOLOGY GROUP PLC

("K3" or "the Group")

Board Changes

K3, which provides and supports Enterprise Resource Planning software, hosting and managed services to the supply chain industry, announces that after nearly 14 years as Chief Executive, Andy Makeham, is stepping down from the Board and leaving the Group to pursue new interests. Andy hands over his role as Chief Executive to David Bolton, Chief Financial Officer, with these changes taking immediate effect. 

David has been Chief Financial Officer at K3 for over 15 years and together with Andy has led the Group's expansion, including taking a prominent strategic and operational role in recent years. He will be supported by the senior management team, which includes the heads of the Group's major operating businesses and the Group Operations Director, a newly created role. Brian Davis, who has worked with David for six years, as Head of Finance, will assume the role of Chief Financial Officer. There are no new Board appointments with these changes.

The Board would like to thank Andy for his substantial contribution to K3 as Chief Executive.  He has played a significant role in the successful development and expansion of the business, and the Board wishes him well in his future ventures. 

As announced in a trading update published on 20 January 2014, the Group's trading in the first half of the financial year has been in line with management expectations and the Board is pleased with the encouraging level of demand for its major new Microsoft Dynamics solution, "ax | is fashion". Continuing momentum here and the improving performance of the Managed Services Division will help to underpin forecast results for the full financial year.

Andy Makeham, commented,

"I am immensely proud of the growth of K3 from relatively small beginnings.  It is now established as a major provider of market-leading ERP solutions to the retail, manufacturing and distribution sectors. As reported in the recent trading update, K3 is on course to a return to revenue and profits growth, driven by the launch of a major new Microsoft Dynamics solution and I wish the Company every future success."

Tom Milne, Chairman, commented,

"Andy leaves with our very best wishes and we would like to thank him for his significant contribution to K3 over nearly 14 years."

Enquiries:

K3 Business Technology Group plc Tom Milne, Chairman David Bolton, Chief Executive	Tel: [phone]
finnCap Nominated Adviser and Broker to K3 Julian Blunt /Henrik Persson (corporate finance) Tom Jenkins (corporate broking)	Tel: [phone]
Biddicks Financial PR to K3 Katie Tzouliadis /Deborah Walter	Tel: [phone]

 

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