WANdisco Plc Directorate Change (2024L)
September 29 2016 - 4:30AM
UK Regulatory
TIDMWAND
RNS Number : 2024L
WANdisco Plc
29 September 2016
RNS
29 September 2016
WANdisco plc
("WANdisco" or the "Company")
Directorate Change
The Board of WANdisco (LSE: WAND) today announces that David
Richards, Chief Executive Officer, will be stepping down from the
Board and his role as CEO of the Company with immediate effect. A
search for his replacement has commenced. In the interim period,
Paul Walker, Non-Executive Chairman, has assumed the role of
Executive Chairman with immediate effect.
The Board can confirm that WANdisco continues to trade in line
with the expectations referenced at the time of the Company's
Interim Results in August. 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.
Paul Walker, Non-Executive Chairman of WANdisco commented:
"Having co-founded WANdisco in 2005, David has been instrumental
to the Company's progress to date. We have a strong product,
perfectly adapted to meet today's Big Data challenges and we are
able to take that product to customers globally, using the
international software business David has helped to build as a
platform. On behalf of the Board I would like to thank David for
his contribution over the years and wish him well for the
future."
David Richards, Non-Executive Chairman of WANdisco
commented:
"WANdisco has been my focus since 2005. The business is now at
an appropriate juncture, place and scale for a new person to take
on the CEO role and drive the Company to its next level of
achievement. I wish all of the WANdisco team well as they push
forward with the exciting opportunity ahead."
For further information please contact:
WANdisco plc via FTI Consulting
Paul Walker, Executive Chairman
+44 (0)203 727
FTI Consulting 1000
Matt Dixon / Dwight Burden / Rob
Mindell
+44 (0)207 597
Investec (Joint Broker and NOMAD) 4000
Christopher Baird / Dominic Emery
UBS (Joint Broker) +44 (0)207 567
Rahul Luthra / Sandip Dhillon 8000
About WANdisco plc
WANdisco (LSE: WAND) is a provider of enterprise-ready, non-stop
software solutions that enable globally distributed organizations
to meet today's data challenges of secure storage, scalability and
continuous availability. WANdisco's products are differentiated by
the company's patented, active data replication technology, serving
crucial continuous availability requirements, including Hadoop Big
Data and Application Lifecycle Management (ALM), including Apache
Subversion and Git. Fortune Global 1000 companies, including
Juniper Networks, Motorola, Intel and Halliburton, rely on WANdisco
for performance, reliability, security and availability. For
additional information, please visit www.wandisco.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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