Xanadu boss sets sail for tax haven

Managing director Peter Wellings has quit X-terminal distributor Xanadu Systems to go sailing and avoid the tax man, leaving general manager Peter Bolton in charge.

Wellings, a staunch indirect channel man, always spoke his mind as his public row with NCD showed after the vendor canned Xanadu due to a personality clash (PC Dealer, 27 September 1995). He has planned a sabbatical since 1990, when he set up Xanadu.

Despite his desire to relax, Wellings stayed on for three years longer than intended because the company was sold twice and went public. Now he wants a break and plans to sail away into the distance, beginning with a tour of the Mediterranean.

'I liked setting Xanadu up, but now it needs professional management, not an entrepreneur,' he said. 'I have got my few quid, I'm preparing my boat and I'll be gone by April 5 - I can't come back for 12 months for, er, tax reasons.' But Wellings has vowed to return and asked PC Dealer to leave his picture on file.