DAMOVO and Graeme Bissett, the former Kwik-Fit executive who was running its finances, are parting company as part of a boardroom shake-up at the Glasgow-based international telecoms services company.
The company said he was leaving to pursue other interests as it announced the appointment of Joe Boyle, the last director of Motorola's Bathgate mobile phone plant, as chief operating officer.
Bissett, who was a corporate financier at Andersen before joining the Kwik-Fit board, will be replaced by Andy Allan, another former partner with
the controversial accountancy firm, as chief financial officer on an acting basis.
His departure comes two years after he was recruited
by Pearse Flynn, the Irish entrepreneur, to lead the
process of creating an independent company out of the former sales and service operation of Ericsson, the mobile phone giant.
With the backing of Apax, the private equity firm which paid (pounds) 327m for the operation, Flynn set out to establish Damovo as a global player headquartered in Glasgow, capable of commanding a hefty stock-market
valuation.
A spokesman for Damovo said Bissett's decision to leave was ''very much his own decision''. He said that because Damovo was established with operations across the world Bissett probably felt he had completed the task for which he was recruited.
Asked if there had been any disagreements between Flynn and Bissett regarding strategy, he said: ''None that I am aware of.''
He did not know what Bissett would do next. Bissett was not available for comment.
Damovo said Boyle had been recruited for his broad experience of operating in global corporations at senior levels. He was director of Motorola's Bathgate plant at the time of the controversial closure of what was then Europe's biggest mobile phone facility in 2001.
The company said Allan would act as chief financial officer while it searched for a permanent replacement for Bissett.
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