Managed service sell-off last action for RedstoneConnect boss

Just weeks after the firm sold off its managed services and SI units the firm's CEO has decided it is time to move on

Just a couple of weeks after it sold off its managed services and SI units smart cities player RedstoneConnect has found itself shuffling its senior management.

The firm has revealed that chief executive Mark Braund is standing down and from Monday chairman Frank Beechinor would take over the CEO role.

Braund will stay around for several months to ensure there is a smooth transition and current director Guy van Zwanenberg will become chairman.

Braund has been with the firm for three years and in that time oversaw changes in the portfolio that culminated with the managed services and SI unit sales at the end of May.

"When I joined the Company in March 2015, it was in a very different place from where we are today. I am delighted with what we have achieved and have enjoyed working closely with the RedstoneConnect team to initially define our strategy, then both re-position and further develop the Company. This has culminated in the proposed disposal of the Systems Integration and Managed Services divisions for £21.6m, in addition to other restructuring activities over the last few years," he said.

"As a result, RedstoneConnect is now in an excellent position to build-upon its growing solutions offering and to further capitalise on the opportunity that exists for workspace management software. I am confident that the Company will continue to both develop and prosper and look forward to seeing the business go from strength to strength," he added.

His successor Beechinor said that the business had been left in a strong position thanks to Braund's stewardship and it was determined to grow the firm as a software specialist.

"Mark has successfully managed the disposals announced in May 2018 which, when concluded, will leave us in a strong position financially and with a significant platform upon which to build our smart software solutions proposition.  We remain keenly focused on generating greater levels of recurring, annuity-based revenues, in order to realise our vision of becoming an international leader in the fast-growing workspace management software market and delivering long term shareholder value," he said.

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