Feeds

Channon ‘throws himself on sword’

Update: more on ilion CEO's sudden exit

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

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. ®

New hybrid storage solutions

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.