AIM-listed tech firm, SysGroup, has announced this morning that CEO, Adam Binks, is to leave the Liverpool-based business.
Binks has led the group for 5 years, during which time it has trebled in size.
Initially joining the business in 2014 as Chief Operating Officer, he stepped up to Chief Executive in 2018 – becoming the youngest CEO on the AIM market.
A year later he closed a £10m fundraise and started a period of acquisitions, including Certus IT, Hub Network Services, Orchard Computers and Truststream.
“On behalf of the Board I would like to thank Adam for his unswerving commitment during his tenure at SysGroup,” said Michael Edelson, Non-Executive Chairman.
“He has demonstrated excellent leadership through extremely challenging times, especially through recent events and his experience and knowledge of both the technology sector and capital markets has proved invaluable. I know I speak for all stakeholders by wishing him well for the future. The Board is grateful for Adam’s work these past nine years.”
Binks will step down from the Board when the group’s full year results are published on June 26th.
At the same time, Heejae Chae, will join the Board as Executive Chairman, replacing Edelson, who will become a Non Executive Director before retiring later this year.
Chae was previously Group Chief Executive Officer of Scapa Group plc and Volex Group plc. He is currently the Chairman of the Remuneration Committee at IP Group plc.
“I’ve thoroughly enjoyed my tenure at SysGroup, the last five years of which as CEO,” said Binks.
“Together with the team, we have built a solid business which can be used to bolt-on further acquisitions and continue to grow organically and I am looking forward to seeing SysGroup go through its next stage of growth under Heejae’s leadership.
“Finally, I would like to personally thank all of my board colleagues, the shareholders and the wider SysGroup team for their continued support over the years.”
