Tom Burnet, the chief executive officer of virtual queueing specialist accesso Technology Group PLC (LON:ACSO), is to take on the role of executive chairman.
Steve Brown, currently chief operating officer, will succeed Burnet as chief executive officer.
Non-executive chairman John Weston gives up the chair but remains on the board as senior independent director.
Alongside these changes, Karen Slatford will join the accesso board as a non-executive director, replacing Matt Cooper, who stood down from the board on 18 March.
Slatford has significant experience of working in the global technology and business arenas, serving currently as senior independent director at legacy software specialist Micro Focus International PLC.
The changes were announced ahead of the ticketing and queue-jumping software specialist’s annual general meeting (AGM), at which Weston will tell shareholders the first part of the current financial year has got off to a strong start, with “pleasing organic growth across all divisions” of the business.
Eighteen new contract wins have been secured in the current financial year while 51 new installations of the company’s various solutions have been completed.
“Taken together, these signs reflect continuing momentum across our group, and show us to be executing well against the opportunity we pointed to at the time of our preliminary results in March,” Weston’s AGM statement said.
“Whilst it is of course still early in the season with, as is normal, less than 20% of the year traded to date, the encouragingly strong start means we are increasingly confident about our likely performance for the year," the statement added.
Broker N+1 Singer took the opportunity to move to a 'hold' position from 'buy' after the recent strong share price performance.
The broker still loves the company, but it is now trading on 42 times projected earnings per share for 2016, falling to 34.8 times in 2017.
The shares were off 3% at 1,222p in lunchtime trading.
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