Our good journalist friend - Paul Kunert at “Channel Register” - has revealed that Tom Kelly, UK MD at Logicalis, will stand down in the New Year. Kelly has been with the firm for around 10 years, during which time revenue has grown from c£20m to c£186m.
It can often be destabilising for a company when a well established leader departs, but as Kelly told Kunert: “Ten years is a long time….it’s time for a change and to face new challenges.” Kelly leaves following a difficult FY12 when revenue growth was hard to find and when profits (at the EBITDA level) tumbled 24% (see Logicalis still finding UK tough going).
At the half way point in FY13, things still looked gloomy for Kelly’s business (see UK market still challenging for Logicalis), with the UK’s share of total group revenues reducing from 28% to 24%.
As you might expect, succession planning is underway in time for a February handover (which is the company’s year-end). Next week we are meeting with management and will of course bring any further interesting updates.