Feeds

RM chief exec Sweeney steps down

Company restructures, plans to axe one in five jobs

The essential guide to IT transformation

RM chief Terry Sweeney is stepping down amid a company-wide restructure after 13 years of service at the education supplier.

The LSE-listed firm is flogging parts of the operation, with the trade and assets of US arm Computrac – a classroom products biz – to be offloaded to Troxell Communications for £3m.

The remaining software unit stateside will be "re-sized".

Computrac contributed around £1m in profits before tax to RM's bottom line in the year to 30 September but is expected to be loss-making in fiscal 2012.

Hit hard by declining education budgets and the collapsed BSF project, RM is also looking at selling other units deemed non-core and is proposing to axe one in five jobs across the organisation in a bid to cut costs by £20m a year.

Sweeney replaced previous boss Tim Pearson, who left the group in July 2008 when things were ticking along very nicely due to the previous government's continued investment in ICT for education.

"Subsequent to the review Terry Sweeney has decided that now is the right time to pursue his career outside RM. By mutual agreement, Mr Sweeney has resigned as Chief Executive Officer and a director of RM with immediate effect," said RM.

RM confirmed that board member Robin Sirs, who last month decided to leave the firm, will "now remain" as group MD reporting to exec chairman Martyn Ratcliffe, who led the strategic and operational review and was non-exec chairman.

"Sirs has been reappointed to the Board. Mr Sirs joined RM in 1990 and has extensive experience of the Group's operations," said RM. ®

Secure remote control for conventional and virtual desktops

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
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
prev story

Whitepapers

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.
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.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.