Martin Balaam has stepped down as the chief executive of VAR Redstone “by
mutual consent”.
The voice and data specialist gave no reason for Balaam’s departure but said
in a stock exchange announcement that it is “transitioning to the next phase of
its development”.
Alan Coppin, chairman and non-executive director, will now take on executive
chairman duties.
London-listed Redstone is set to announce its full-year results in June but
for its fiscal first half to 30 September the reseller swung to a pre-tax loss
of £1.8m on revenue up 10 per cent to £106m.
Coppin will be supported by a divisional management team that will oversee
each of the company’s divisions.
Balaam, who will leave Redstone’s board with immediate effect, said: “I have
thoroughly enjoyed my time at Redstone during its acquisition phase and I am
delighted that Alan has been appointed as executive chairman. He has been
instrumental in the development of Redstone and his extensive experience will be
of particular benefit in its next phase of development."
Coppin said: “On behalf of the board of Redstone and me personally, I would
like to thank Martin for his enthusiasm, energy and contribution to the
development of Redstone over the years. We wish him well in his future
activities."
Taken from here
