Richards re-instated as CEO of WANdisco

The board of Sheffeld-based WANdisco has announced that David Richards has been reappointed to the board and as chief executive with immediate effect.
By The Newsroom
Published 6th Oct 2016, 11:18 BST
Updated 25th Oct 2016, 20:09 BST
David Richards, chief executive of WANdiscoDavid Richards, chief executive of WANdisco
David Richards, chief executive of WANdisco

The announcement comes exactly a week after the company announced that Mr Richards was stepping down from his role as CEO.

In a statement, WANdisco, said: “David will also assume the role of interim chairman until such time as a suitable candidate can be appointed.

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“The board also intends making further appointments to the board, with details to follow in due course.”

The company said that WANdisco continues to trade in line with the expectations referenced at the time of the company’s interim results published in August 2016.

The statement added: “There is a good pipeline of bookings and cash costs continue to decline which, combined with the new equity funding secured in June, have enabled WANdisco to remain on a path toward cash flow break-even.”

Mr Richards, the CEO of WANdisco, commented: “I am delighted to be returning to WANdisco with the express backing of approximately 58 per cent of our institutional shareholder base. I have never lost sight of the tremendous opportunities that exist across our business: we have developed a truly world class product portfolio which continues to underpin our strong new business pipeline.

“I look forward to updating the market of our continued strategic progress over the coming months in addition to confirming a number of new board appointments.”