ICL culls flotation flop executives


ICL culls flotation flop executives

Nick Enticknap

Nick Enticknap

Three top ICL executives have been culled in the aftermath of the company's aborted flotation on the stock exchange.

Finance director Alan Gibson, group executive director Robin Hacking and Nigel Hartnell, corporate development director and president of IT suppliers' organisation the CSSA, are all following chief executive Keith Todd out of the door.

All three were closely involved in the flotation plan and officially their decision to leave ICL was "by mutual consent".

Group executive director David Palk, who resigned in May, before parent company Fujitsu suspended the flotation will go next month.

There is now confusion within the services company over the status of its former leading lights. ICL said Alan Gibson had left the company on Monday, but a tight-lipped Gibson told Computer Weekly from Portugal that he had left last week.

The company said the other three executives were scheduled to leave in September, but on Monday their personal details had been removed from ICL's Web site.

For Bloor Research analyst Martin Brampton, the bloodbath of directors cannot come soon enough. "If they don't make drastic changes they do have a problem.

"They will inevitably lose their best staff, and for a services company that is a big handicap," he said.

For ICL's large user community and the Government, which has signed significant outsourcing contracts with ICL, there will be mounting concern over their partner's ability to deliver in future.

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