The executive chairman of Nottingham-headquartered听RegTech听Ideagen听is to retire.听
David Hornsby will retire from the listed group in May, alongside the announcement of its trading update for the year ending 30th April.听
The听acquisitive听company, which creates regulatory and compliance software听and has听reported 11 years of consecutive growth, said he听will be succeeded听鈥撎�in听a non-executive capacity听鈥撎�by听Richard Longdon.听听
Longdon听is currently听serving as the firm鈥檚听senior independent director.听
The firm, which has made 20 acquisitions,听has pursued a strategy of growing the business both organically听and via strategic acquisitions.听
On Tuesday morning it also revealed half-year annual recurring revenue growth of 20 per cent with adjusted EBITDA growth of 25 per cent, covering the six months to October 31st. It added 270 new customers during the period.
“I am extremely proud of what I have achieved at听Ideagen听over the last 12听years,鈥� said Hornsby.听听
鈥淗aving established the group in 2009 through my investment in Datum I am a significant shareholder and the continued success of听Ideagen听is of the utmost importance to me.听听
鈥淚 am confident that the company is today in the strongest position it has ever been, led by an exceptional executive group and a strong board who are successfully implementing a clear strategy.鈥�听
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Hornsby‘s executive responsibilities will move over to听CEO听Ben Dorks, and to Emma Hayes,听who took over as chief听finance听officer听last year听following the retirement of Graeme Spenceley as听CFO.听
Prior to joining the group in November 2019, Longdon spent 33 years at Aveva Group plc, including 17 years as CEO. During this time, that business grew from a 拢7听million听management buyout to a 拢42m public listing and was valued at 拢1.4听billion on his retirement in 2016.听
“I have worked closely with David for the last听eight听years,鈥� said Dorks.听鈥�What he has achieved at听Ideagen听is quite outstanding.听听
鈥�Having made 20 acquisitions听Ideagen听is now a world leader in the provision of regulatory and compliance software with over 5,000 customers, 600 employees with offices in EMEA, Europe and Asia.听
鈥�His work ethic and dedication to the听company and its employees has been remarkable. He leaves an extraordinary legacy to听follow听and we wish him the very best for the future.”听
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