Business
Appointment of CEO and Trading Update
Appointment of CEO and Trading Update.
About this update from Redcentric Plc
[{"type":"text","content":"\n \nRNS Number : 7206S Redcentric PLC 05 October 2017 \n\n \n05 October 2017\n \nRedcentric plc\n(\"Redcentric\" or the \"Company\")\n \nAppointment of Chief Executive Officer and trading update\n \nRedcentric plc (AIM: RCN), a leading UK IT managed services provider, is pleased to announce the appointment of Chris Jagusz as Chief Executive Officer, who will commence on 16 October 2017, and to provide an update on trading for the six months ended 30 September 2017.\n \nAppointment of Chief Executive Officer\n \nThe Company is delighted to announce the appointment of Chris Jagusz as Chief Executive Officer. Chris has over twenty-five years of experience in the telecoms and managed services industry, during which time he has built a track record of delivering growth and business transformation.\n \nChris has enjoyed a mix of both executive and consultancy roles through his career. From September 2014 to August 2016, Chris was Chief Executive of Azzurri Communications. During this period he led the transformation of the business, refocusing on growth markets and driving margin and efficiency improvements prior to its sale. \n \nPrior to this role, from July 2012 to September 2014, Chris was Managing Director of SSE Telecoms. During this period, he drove the investment in advanced networks and products which served as the foundation for its growth in commercial markets. Other executive roles in the telecoms and managed services industry include Managing Director at Daisy Group plc (February 2010 - August 2011) and a number of senior management roles at BT (1988 to 2006). \n \nTrading update\n \nTrading for the six months to 30 September has been in line with management expectations. The Company has continued to focus on delivering reliable services for its clients while improving the operations of the business. In particular, good progress has been made with reducing the net debt position to £33.3 million, which is ahead of management's expectations. This is due to strong operating cash flows reflecting improved trade debtor collections and working capital management. \n \nThe Company will report its interim results on 29 November 2017. \n \n \nChris Cole, Chairman, commented:...