Paul Renucci (pictured) has stepped down from the helm of giant integrator Kcom after nearly four years in charge.
According to a stock exchange announcement from parent company KCOM Group, Renucci resigned yesterday from his post as group executive director.
He was responsible for the Kcom brand, which was born a year ago when the firm merged its Affiniti brand with the national operations of Kingston Communications.
Renucci joined Affiniti as managing director in April 2007 having previously headed up rival comms integrator Damovo and before that worked for Nortel.
According to a spokesperson, Renucci has resigned “with immediate effect”.
His role will now be carried out by KCOM Group chief financial officer Paul Simpson in tandem with his current duties.
The spokesperson was unable to offer any explanation for Renucci’s departure but in the statement the firm thanked him “for having overseen the transformation of the management and operation of that brand”.
For its first-half year to 30 September, Kcom posted an 11 per cent fall in revenues to £123.5m, despite recent contract wins with British Airways and Phones4U. The firm recently offloaded some “low-margin” maintenance contracts to rival Phoenix.
Meanwhile, KCOM Group also announced its intention to extend Bill Halbert’s role as executive chairman through to its 2012 AGM.
Keith Humphreys, managing consultant at analyst Eurolan, said: "Compared with some of the other executives that have come out of Nortel, Paul has shown considerable staying power at both Kcom and Damovo."
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