| Bird leaves eg solutions plc after six months |
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| Wednesday, 12 March 2008 | |
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Operations management software firm eg solutions plc has announced the resignation of Paul Bird as finance director of the company with immediate effect. Bird has resigned from the board in order to assume another position elsewhere. He will remain with the company until the end of his contracted notice period of six months in order to execute an efficient handover to his successor. Bird joined eg only in September 2007 as finance director, with responsibility for commercial aspects, software and operations. He previously served at South Staffordshire Plc, firstly as director of finance (software and outsourcing) and, since 2004, as finance and commercial director of Echo Managed Services Ltd. At Echo, he was responsible for all financial systems and controls, the design and implementation of strategic change management programmes and leading bid teams including the negotiation of key contracts. Bird previously held senior financial positions within Virgin, Manufacturing companies, and in the National Health Service. He holds an MBA and MA in Commercial and Contract Law, a Post-Graduate diploma in Employment Law, an MSc in Policy and Management and qualifications in accountancy. The company (LSE:EGS) floated on AIM on 6 June 2005 and currently has more than 38,000 licensed users of eg software packages across a blue chip customer base in the financial services industry. The AIM-listed firm issued a profit warning on 21 January 2008, saying the Board expected revenues to be lower than market expectations which would result in a pre-tax loss for the year. The board added that a small profit had been anticipated based on improved performance in the second half of the financial year. “Although costs have been reduced in line with original expectations enabling the company to return to profit in the closing months of the year, revenues from the majority of sales closed in the same period will not be able to be recognised until the financial year ending 31January 2009,” it said. “Although 2007 was an arduous trading year, both the UK and International markets are increasingly more receptive to the company’s offering. The sales pipeline and order book for 2008 is healthy, putting the company in a good position to demonstrate its recovery during the next financial year,” eg solutions concluded. The company will be announcing Preliminary Results for the full year ended 31 January 2008 on Wednesday 26 March 2008. Related links |
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