Software group chairman resigns with immediate effect
The chairman of AIM-listed group Idox has decided to step down with immediate effect.
Laurence Vaughan told the business, which supplies specialist software, services and content to the public sector, that he will be pursuing other interests.
Idox, which operates from five UK offices and four European bases, said a search has already began searching for a successor and hopes to be able to appoint a new chair shortly.
“The board would like to thank Laurence for his contribution to the company since he joined as chairman in August 2015 and wishes him well for the future,” Idox said in a London Stock Exchange statement.
Vaughan’s departure comes just weeks after Idox announced it had sold its loss-making digital division for £1 to award-winning digital marketing agency Fat Media.
The company’s digital division specialises in providing digital consultancy services to private sector clients. For the financial year to 31 October 2017, the business recorded a pre-tax loss of £3.2 million.
Idox said the disposal allows the group to focus on its core operations and further improvements in its operating model.