Software firm Wandisco PLC (AIM:WAND) has named Kenneth Lever as its interim chairman amid an ongoing probe into potential fraud by a senior sales employee.
Lever, who until recently was the chair of waste management business Biffa, will also chair the fraud investigation committee alongside non-exec director Peter Lees and audit committee chair Karl Monaghan, which is supporting an independent investigation into the possible fraud.
Lever has held various senior executive and non-executive positions and is currently a non-executive director at Vertu Motors (AIM:VTU) PLC and Rockwood Strategic PLC, and deputy chairman of Rainier Developments Ltd, WANdisco noted.
“As chair, Ken will provide leadership and direction to the board and oversee the strategic direction and corporate governance of the company,” the software company said in a statement.
Earlier this month, WANdisco asked for its London shares to be suspended on the discovery of “potentially fraudulent irregularities” in regards to purchase orders, related revenue, and bookings represented by a senior sales employee.
Just prior to this, the Sheffield, England and San Ramon, California-based company had been eyeing a US listing of its shares.
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