WANdisco appoints new interim CEO following 'potential fraudulent irregularities'

The Microsoft partner claims 'the rescue' of the business is underway, and that Kelly will take the reins when the suspension of the company's shares can be lifted

Big data specialist WANdisco has appointed Stephen Kelly as its interim CEO starting on 10 May.

The appointment comes just weeks after the Sheffield-based Microsoft partner's shares were suspended due to allegations of potential fraud.

The allegations reference a "senior sales employee".

However, co-founder and chief executive David Richards and CFO Erik Miller have both stepped down.

WANdisco says Kelly will serve as permanent CEO when the suspension of the company's shares can be lifted.

Kelly's record

WANdisco touted Kelly's record of leadership at a wide range of companies, from start-ups to large organisations in both private and public sectors in the USA and Europe.

He has worked at vendor Oracle, and was CEO of NASDAQ listed start-up Chordiant, between 2001 and 2005, and MicroFocus between 2006 and 2010.

In the public sector, Kelly was appointed chief operating officer for Government and Head of the Efficiency and Reform Group in September 2012.

Returning to the private sector in 2014, Stephen then served as chief executive of Sage until 2018.

Contiguous with the appointment of Stephen as Interim CEO, Ken Lever will resume his position as Interim Non-Executive Chairman.

WANdisco's leadership

Kelly will assume overall executive responsibility for WANdisco, with an initial focus on customers, channel partners and alliances, the sales organisation, go-to-market strategy and building the sales pipeline, the firm says.

Ken Lever will continue to chair the Company's Board of Directors, as well as continuing to chair the Board's Investigations Committee, and will remain heavily involved with workstreams focused on lifting the share suspension.

"As a passionate champion of UK Tech companies striving to become Number 1 on the global stage, I am excited by the prospect of joining WANdisco," Kelly commented.

"I am a firm believer in the potential of WANdisco's technology to become a market leader and, whilst there is much work to be done, I have relished my previous UK listed turnaround roles and am proud of the successful transformations, profitable growth and value creation they have delivered.

"I believe Ken has started the rescue, recovery and rebuild process well and, as a team, we have the opportunity to build a high-quality, global UK growth business delivering for all stakeholders."

Lever added: "The Board is delighted to have secured someone of Stephen's calibre and track record to lead WANdisco forward.

"All of us remain squarely focused on advancing the workstreams that are designed to lift the current suspension in WANdisco's shares and position the Company for long term success.

"I look forward to benefiting from Stephen's energy and perspectives as we do so."

Stephen's appointment as Interim CEO is subject to the completion of customary due diligence.