Eg solutions plc (eg), the back office optimisation software company, announces that John Anthony O'Connell has joined eg's board as Non-Executive Chairman with effect from 24 March 2013. He will also Chair the Remuneration Committee.
Aged 67 years, Mr O'Connell is an active, high-profile London-based technology entrepreneur, who founded, floated and sold one of the leading software companies in the UK and is now focused on helping create other world-leading UK-based software companies through his direct participation, as well as from his philanthropic activities.
Since 2005, Mr O'Connell has been Chairman of a number of software companies, currently Active Navigation, Helveta, Mtivity and Opta Sports Data. Previously he was Chairman, inter alia of AIM-listed Portrait Software plc (2005 to 2010), previously having led the sale of Staffware plc in 2004.
Mr O'Connell founded Staffware plc in 1984. Staffware was a pioneer and then became global leader in the workflow and business process management software industry. Staffware listed on AIM in London in 1996 and then went onto the main LSE market in 2000. As Chairman and CEO he led the sale to Tibco Software Inc. for $260 million in June 2004 when Staffware had offices in more than 20 countries, employing approximately 400 staff and with more than 500 international clients having grown revenue tenfold over 8 years. The sale to Tibco was at a premium to the pre-announcement market price of 46 per cent.
A Fellow of the Chartered Association of Certified Accountants, Mr O'Connell has been recognised as a 'Master of Information Technology' by the US based Trade Association, AIM International. He has co-authored a book Mastering Your Organisation's Processes, published by Cambridge University Press. He is a regular public speaker especially on the topic of the challenges of being an entrepreneur in the UK software industry. He is a Liveryman of the Information Technologists Company, whose Entrepreneurs Forum guides approximately 100 emerging companies in the UK, representing in aggregate over £150 million of annual revenue and employing over 1,000 staff and is also Chairman of the ITC Enterprise Awards Panel.
Mr O'Connell commented: "My goal is to help create another software world champion in the UK, emulating Staffware's success. eg solutions has developed software and products which are now recognised as leading the rapidly emerging back office optimisation market and I am confident that the Company has the potential to be such a world champion with the consequent returns for its stakeholders."
There are no other disclosures in respect of Mr O'Connell required under Rule 17 or Schedule 2 (g) of the AIM Rules.
Mr O'Connell's appointment follows the decision by Rodney Baker-Bates to step down as Non-Executive Chairman of the Company with effect from 24 March 2013. He will remain on the board as a Non-Executive Director and will join the Audit Committee.
Mr Baker-Bates said: "I have been Chairman of eg solutions and a significant shareholder since the Company floated on AIM in 2005. The Company is in excellent shape and following the recently announced deal with Aspect Software, now is the right time for me to step down. I would like to thank my colleagues for a most rewarding time as Chairman, particularly Elizabeth Gooch whose leadership has been crucial to the Company's achievements. I look forward to continuing in my new capacity."