Feeds

RM chief exec Sweeney steps down

Company restructures, plans to axe one in five jobs

Boost IT visibility and business value

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. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
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.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
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.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.