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Fran Rooney has resigned as CEO and deputy chairman of Irish security outfit, Baltimore Technologies, to pursue other business interests.

CFO Paul Sanders will take-over the running of the company until a replacement can be found.

In an interview with the AFX newswire service Sanders denied that Rooney's decision was based on shareholder pressure for him to quit.

Instead, it was part of group-wide restructuring at the company, he said.

In a statement issued this morning, Rooney said: "After five years with Baltimore, I have decided to pursue other interests which include board positions that have been offered to me."

He is expected to become chairman of an e-learning company.

Baltimore's share price was up 4 pence (21 per cent) at 23 pence by mid morning - a far cry from the heady heights of almost £15 some 18 months ago. ®

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