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Bates moves aside for Covington as ITRS CEO

16 February 2011  |  2182 views  |  0 Source: ITRS Group

ITRS Group plc, the leading global provider of predictive, real-time monitoring and proactive application performance management products to the world's financial community, announced today the planned stepping down of Stephen Bates from the role of CEO on April 1st.

Stephen is to be succeeded by Kevin Covington, the current Deputy CEO and European Managing Director. At the same time Misha Kipnis, the current CTO, will move from this position to become Director Technical Strategy and Architecture.

Stephen will become the Executive Chairman and Director Business Strategy, defining the overall strategy and direction for the company and focusing on expansion and exploring new opportunities - new markets, developing additional distribution channels and broadening ITRS's reach in the current market vertical. Kevin will take over the day-to-day running of the company and driving through the changes to implement its global strategy. Misha will now concentrate on the long-term technical roadmap and software architecture, continuing with the company's ethos of innovation and forward thinking.

Stephen Bates, CEO of ITRS Group, said: "Kevin has worked with ITRS for a number of years, initially as a non-executive director and for the last two years as my deputy. His leadership and sense of what ITRS stands for is just what we need as we enter the next challenging phase of our development and growth."

Kevin Covington, deputy CEO of ITRS Group, commented: "Having Stephen and Misha in these strategic roles will not only ensure we maintain our DNA, but also help drive us to new heights. I look forward to working with the team to continue taking ITRS from strength to strength."

"I am very much looking forward to being able to put all my energy into developing our technical strategy and continuing with product innovation which is now so strongly associated with ITRS. There is much to be done in both our existing and new segments and markets," said Misha Kipnis, CTO of ITRS Group.

These changes will be effective from 1st April, 2011.

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