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Data centre and Managed Services Provider (MSP), Redcentric, has announced the immediate departure of Brian Woodford, Executive Director and CEO designate, citing personal reasons. Current CEO Peter Brotherton will continue in his role until further notice, providing leadership continuity.
In a short release out this morning, Chairman Richard McGuire emphasised the company's strong executive team and positioned the retention of Brotherton, with his proven leadership and deep understanding of the business, as a strategic advantage for continuing the company's growth trajectory. Woodford expressed appreciation for his time with the company's clients and colleagues.
At the end of H1 Redcentric was looking in pretty good shape, having closed a robust first half with the firm having increased revenue by 5.8% to £86.8m in the six months to end September. The adjusted EBITDA margin had expanded 3.3bps to 21.0% and recurring revenue stood at c.90% of total revenue and grew 4.6%. FY results for the year ended 31st March should be out in August.
Focused on cloud, communication, network and cyber security solutions, Redcentric has begun to realise the cross-sell opportunities from the enlarged customer base created through its recent purchases of 4D Data Centres, Sungard Consultancy and Sungard Data Centres (see here).
