Kainos Group chief executive Brendan Mooney to step down
Kainos Group CEO Brendan Mooney Steps Down After 22 Years Leading FTSE 250 IT Provider
- Mooney will be replaced by Russell Sloan from September this year
- He led Kainos through its IPO on the London Stock Exchange
Kainos Group’s CEO will step down in September after 22 years at the helm of the IT provider.
Brendan Mooney leaves after a total of 34 years at Kainos, the company behind the Workday HR software, having joined the FTSE 250 group as a software engineer trainee in 1989.
He will be replaced by current director of digital services Russell Sloan, who will also join Kainos’ board of directors.
The IT provider is behind HR software Workday
During his tenure as chief executive, Mooney led Kainos through its IPO on the London Stock Exchange as the group grew into one of the UK’s leading IT providers.
Kainos, whose UK public sector contracts include helping to develop the NHS app, said Mooney would remain with the company until its annual general meeting in September and would remain ‘actively engaged’ with the company until June next year to ensure an orderly transition.
Mooney’s replacement joined Kainos in 1999, also as a trainee software engineer, before embarking on a series of leadership roles.
He previously served as director of Kainos’ digital services division, where he “delivers digital transformation for government, healthcare and commercial sector organizations,” the group said.
Kainos’ revenues rose 26 per cent year-on-year to £179.8m in the six months ended September, following significant overseas growth and rising orders from the commercial sector.
In the most recent fiscal year, digital services generated more than 60 percent of Kainos’ total revenue.
Kainos recently predicted that demand for its services will remain high in the near term as more companies and institutions upgrade their digital operations.
Kanios shares fell 2.3 per cent to £13.84 in early trading, bringing losses to around 12 per cent since the start of the year.
Kainos Chairman Tom Burnet said: ‘Brendan and Russell have worked closely together as colleagues for many years and today marks the final stage of our four-year succession process.
“We look forward to continuing to work closely with Russell and support him as he continues to grow the business.”
Sloan added: Kainos is a thriving, growing and global company. I am excited to take over as chief executive in September and look forward to building on the success created over the decades.
“We have a lot to be proud of as a team and look forward to many more successes in the future.