Business
Statement re appointment of new Chairman
Statement re appointment of new Chairman.
About this update from Tern Plc
[{"type":"text","content":"\n Statement re appointment of new Chairman1 June 2017 Tern Plc (AIM: TERN)Appointment of new ChairmanTern Plc (AIM:TERN), the investment company specialising in Internet of Things, is delighted to announce the appointment of Ian Ritchie CBE (aged 66) as Non-Executive Chairman with effect from 1 June 2017. Ian brings to the Board a breadth of experience and an extensive track record in the software industry, in which he has worked for more than 35 years. His career to date spans leadership roles in both growing and investing in technology businesses.Ian has been Chairman of AIM-listed cloud computing company, Iomart Group plc,during which time revenues have risen from £8m to £89m, and EBITDA has grown from a loss of £1.4m to a positive £36.6m (as disclosed in March's year-end trading statement). He is also currently Chairman of Computer Application Services Ltd and Krotos Ltd. In addition, Ian has established and worked with a number of successful technology businesses. Most notably he founded Office Workstations Ltd, a pioneer developer of hypertext web browsing technology, building the business in Edinburgh and Seattle before selling it to Panasonic. Ian has a personal interest in the development and commercialisation of technology businesses, having founded ScotlandIS, the trade association championing Scotland's digital technologies industry, and worked with investment funds run by Northern Venture Trust plc and Pentech Ventures. Ian is a Chartered Engineer and Computer Science graduate and has received several honorary doctorates, including most recently from the University of Edinburgh. Ian is a Fellow (and past-President) of the British Computer Society, the Royal Academy of Engineering and the Royal Society of Edinburgh. He was awarded a CBE in 2003 for his services to enterprise and education. Al Sisto, Chief Executive of Tern Plc, said:\"I am delighted to welcome Ian to the Board. We interviewed several strong candidates but Ian's extensive experience in the technology sector and in helping young companies grow made him stand out. Ian has an exemplary track record of working with management teams to deliver shareholder value and we look forward to working with him as we continue to deliver Tern's strategy.\" Ian Ritchie, incoming Chairman, added:\"I am delighted to join Tern, a company ...