Rolfe & Nolan CEO John Lodge has left the company "by mutual consent" following a board-led business review.
Lodge has been replaced by Bob Freeman, previously European managing director. He has been briefed to refocus on the company's core back office business and inject some urgency into the development of Project Merlin, the group's new generation system.
The Web-technology oriented Merlin project is considered critical to the future of Rolfe & Nolan, which is struggling to make inroads with its ageing technology platform. The vendor has secured agreement in principle from some of its largest customers to co-fund the Merlin initiative, but the board were growing increasingly restless at the failure to close down the deal.
Says Rolfe & Nolan in a statement: "Discussions with a number of investment banks are at an advanced stage, whereby a mutually acceptable commercial deal, with the appropriate funding, for the Merlin project is anticipated to be agreed in the near future."
The group says it has won six new licence sales worth approximately £1 million in the six weeks since its AGM on 31 July. Results for the six months ended 31 August, 2001 will be announced in November 2001.