Harrogate-based IT firm Redcentric plc said on Monday that David Senior has informed the board of his decision to step down from the role as chief financial oficer and executive director.
“David’s departure date will be confirmed in due course,” said Redcentric.
“The board has commenced its search for a successor. An update will be provided once this process has concluded.
“During this transition period, David will continue to fulfil his duties and support the company in executing the company’s strategy, including overseeing the completion of the financial year ending 31 March 2025.”
The news follows an announcement from Redcentric on January 20 that Brian Woodford will join its board, effective February 3, 2025.
Woodford will also assume the role of CEO after an anticipated two-month transition period and a smooth handover of responsibilities, with Peter Brotherton stepping down as CEO.
Redcentric chairman Richard McGuire said: “David has been an integral part of the company since 2017, playing a key role in building a strong finance team and making a significant impact on the commercial success of the business.
“The board would like to express its sincere thanks to David for his valuable contribution over the past seven years.”
On November 1, 2024, Redcentric announced that John Radziwill had been appointed as non-executive director of the company as a representative of ND Capital Investments Limited, one of Redcentric’s largest shareholders.
In conjunction with the appointment of Radziwill, Redcentric said it entered into a relationship agreement with ND Capital.
The key terms of this agreement mean ND Capital has the right to nominate one person for appointment as a director of Redcentric providing that ND Capital — together with its individual partners and their affiliates — directly or indirectly holds no less than 15% of the voting rights of the company, or 7.5% “taking into account any reduction in voting rights resulting from any dilution following the date of the agreement.”
Redcentric’s largest shareholders include Kestrel Investment Partners with a 20.67% stake, ND Capital Investments Ltd with 16.1%, Lombard Odier Asset Management with 15.93%, Slater Investments with 11.53% and Harwood Capital with 11.03%.