Orc Software chairman Markus Gerdien becomes COO

Source: Orc Software

Orc Software - quoted on Nasdaq OMX Stockholm - Chairman Markus Gerdien will take up the newly established post of Chief Operating Officer (COO) of the company, and will thus leave the company's board of directors with immediate effect.

"I am very pleased that Markus Gerdien is willing to assume an operating role again. We have worked together earlier and I know what an asset he will be when it comes to capturing the major business opportunities for Orc's services and solutions," says Thomas Bill, CEO of Orc Software.

Markus Gerdien has considerable operative experience of technology solutions for the financial market. Aside from being Chairman of Orc Software since 2007, he has held the post of President at OMX Market Technology. In the capacity of CEO, he has also worked together with Thomas Bill at Front Capital Systems. He left NASDAQ OMX Stockholm in 2008 to focus on his board duties.

"For some time I have been eager to return to a more operating role. In my discussions with Thomas Bill about how Orc Software can best exploit its strong market potential, it became clear that I would fit into the role of COO. Being able to both work in an operating capacity and continue at Orc Software is ideal," says Markus Gerdien.

The decision to appoint Markus Gerdien as COO of Orc Software means that he will leave his seat on the company's board with immediate effect and resign as a member of the nominating committee. Patrik Enblad has been appointed as the new Chairman, until the Annual General Meeting. Patrik Enblad, CEO of Newsec, has served on Orc's board since 2005.

Markus Gerdien will assume his position as COO in mid-March.


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