Softcat boss heads for the catflap

catflap-415pxSoftcat has initiated a search for a new CEO after announcing that Martin Hellawell is quitting after 11 years at the top scratching post.

Hellawell will leave once a replacement is found, but will stay on as non-executive chairman.

It is not as if the company has been doing badly, Softcat revealed in a trading update that its Q3 trading has been in line with expectations. Having obliterated its growth expectations in its fiscal first half, Softcat continued to “trade well” during Q3, according to a trading update released this morning.

During Hellawell’s tenure, Softcat’s revenues have boomed ten-fold, from £67 million to £672 million. It floated on the London Stock Exchange in November 2015.

Hellawell said it was the right time for him to step back from the day-to-day cut and thrust of the business.

He said that he was operational and hands on in every detail, and after 11 years it takes its toll on you.

“There’s a really great opportunity for Softcat ahead of us, and it’s time to get some fresh energy into the organisation to move us forward.”

Hellawell said Softcat managing director Colin Brown has ruled himself out of the running and that his successor will most likely be an external appointment.

Hellawell said stepping back to a non-exec role would allow him to focus on charity work and on his health and fitness, but stressed he will still be heavily involved with Softcat, and the wider industry.