Feeds

Channon ‘throws himself on sword’

Update: more on ilion CEO's sudden exit

  • alert
  • submit to reddit

The essential guide to IT transformation

Wayne Channon has resigned as chairman and chief executive of troubled networking distributor illion group plc. Channon, who founded the company in 1989 is reported as saying that he recognised it was "time to go" before deciding to take the honourable way out. And although he took full responsibility for, in his words, "throwing himself on the sword", it seems that there were plenty of people around happy to sharpen it for him. Only last week the company announced that its pre-tax profit would be "materially below expectations" for the current year, ending 31 December 1998. A year ago the company warned that profits for the year would be down by around £2 million from £8 million. In September this year the company said performance was impaired by slower growth in the UK than was expected and by losses in some Continental subsidiaries. ilion's problems have been consistently blamed on slow sales and low profitability in the UK organisation. But today, the list of ilion's woes has grown longer with one spokesman blaming the company's poor performance on lack of expenditure by the City and on the strength of sterling. Channon's resignation has come as little surprise to industry watchers. "You simply can't escape the fact that the company has had three profit warnings in the last year," said one source. illion has been quick to replace Channon, whose departure takes effect immediately. Serge van Gorkum, who was Group Product and Marketing Development director until June this year but who left for "a holiday" has rejoined the company as group Chief Executive. As the founder of ilion's French subsidiary and a previous director of the company, he has a "deep understanding of the group's business", the company said. Existing non-executive director Michael Sayers has taken over the role of non-executive chairman. ®

Boost IT visibility and business value

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Fast And Furious 6 cammer thrown in slammer for nearly three years
Man jailed for dodgy cinema recording of Hollywood movie
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Scale data protection with your virtual environment
To scale at the rate of virtualization growth, data protection solutions need to adopt new capabilities and simplify current features.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?