Crimson Tide plc has appointed a new CEO following its takeover saga.
The firm rejected two hostile bids from Checkit plc last summer as Ideagen considered a £20.5m move for the Tunbridge Wells firm, but the private equity-backed Nottingham-headquartered RegTech opted against making an offer.
Following months of wrangling, in February Crimson Tide agreed an all-share takeover offer from Checkit at a lower price – only to see Checkit shareholders then vote down the deal.
Following the news, Crimson Tide chair Jacqueline Daniell, a former CEO at the firm, stepped down from the position and from the company’s board. CEO Phil Meyers, only appointed in May 2024, would follow her out of the business shortly afterwards.
In June Crimson Tide welcomed Chris Fielding, a corporate finance expert and part-time CFO at 2iC-Care, as its permanent non-executive chair.
The firm – behind process management app mpro5, which enables organisations to digitally transform their business and strengthen their workforce by smart mobile working – has also reported the renewal of major contracts with a major British supermarket and a major wholesaler to the London Stock Exchange.
Now it has appointed current interim COO Jon Clarke to the CEO position with immediate effect.
Clarke started his career at ITV in 2005 then worked at Havas Group and Clear Channel Outdoor. Since 2013 Jon has gained experience in various smaller businesses, including Viage Limited, a support services business, and Onvi Tech Limited, a mobile order and payment business for hospitality venues, both of which he founded.
In June 2024 he became interim COO for The Future Fox, an AI startup, covering for the founder’s maternity leave, before joining Crimson Tide in October 2024.
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“We are delighted to have concluded the changes to the Crimson Tide board of directors with the appointment of Jon as chief executive officer,” said Fielding. “He has been a successful member of that team since October last year and will, I am sure, make a significant contribution to the growth of our Company. I very much look forward to working with him.”
Clarke added: “We are entering an exciting new chapter for the company, and I am honoured to lead the team as we accelerate innovation, strengthen our market position, and deliver long-term value for our shareholders.
“Crimson Tide has huge growth potential, and I’m confident we are well-positioned to capitalise on the significant opportunities ahead.”