The CEO of Redcentric has resigned in the middle of the company’s issues with its legacy accounting.
Fraser Fisher will step down in 31 December 2017 so that he can provide a handover with his yet-to-be appointed successor.
The company’s share price has fallen by two thirds last November after it warned it would have to write down historic profits after discovering “misstated accounting balances” in its balance sheet.
Redcentric said in June that it had put a “challenging period” behind it after hitting revised financial targets, with annual revenue reaching £104.6 million.
In February, the firm became the sole supplier on a significant contract which forms part of the Health and Social Care Network, which replaces the N3 national private network.
According to a stock exchange notification, Fisher is leaving to “pursue other interests”.
Redcentric chairman Chris Cole said: “On behalf of the board, I would like to thank Fraser for his loyal service to the company for the past 14 years and for his leadership of the business in the recent difficult times and wish him well for the future.”
