Feeds

RM chief exec Sweeney steps down

Company restructures, plans to axe one in five jobs

Maximizing your infrastructure through virtualization

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. ®

Top three mobile application threats

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.