9th Mar 2015 07:50
LONDON (Alliance News) - Coms PLC Monday moved to shore up its depleted board, appointing Mark Braund and Guy van Zwanenberg as non-executive directors.
Braund is the chief executive of specialist information technology recruitment group Interquest Group PLC, while van Zwanenberg has had a varied career that started with Grant Thornton and then through various financial management businesses. He is currently a non-executive director of Quixant plc. Braund has "a proven ability to grow businesses" and led the turnarounds of TAC Europe and Lorien PLC, according to Coms.
"In Mark and Guy, we have two highly accomplished directors with extensive experience of turnaround scenarios, both in the private and public arena and I expect that their input will be invaluable in the weeks and months ahead," Coms Chairman Frank Beechinor said in a statement.
The news comes a week after the company's former Chief Executive David Breith resigned with immediate effect, at the same time withdrawing a request to hold a shareholder meeting to consider removing two members of the company's board.
Shares in Coms had plunged the previous week after it said it would report a "substantial loss" for the financial year that just ended, and as Breith requisitioned the general meeting to consider removing two board members including Non-Executive Chairman Frank Beechinor.
We now have a very experienced interim management team in place and are in discussions regarding further executive management appointments which will bring extensive sector experience and knowledge to the company. With the full support of the board, I am confident that we will tackle the challenges ahead with great alacrity," Beechinor said in Monday's statement.
By Steve McGrath; [email protected]; @stevemcgrath1
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