Cordel Group CEO steps down
By Iain Gilbert
Date: Wednesday 01 Mar 2023
(Sharecast News) - Artificial intelligence group Cordel revealed on Wednesday that chief executive Nick Smith had stepped down from the role.
Cordel stated Smith will take up a new position as vice president of the group's Europe and Middle East division, effective immediately, and will be replaced on an interim basis by John Davis.
Chairman Ian Buddery said: "Nick wishes to return to a pure growth-focused role, so the board has formulated a transition plan that will ensure continuity of delivery to customers and optimal performance for shareholder value.
"John Davis, who has been a non-executive director of the company since 2018, will step in as interim CEO whilst a considered and thorough search is undertaken for the next CEO. John brings extensive executive managerial experience and is already deeply engaged in our business."
As of 1010 GMT, Cordel shares had slipped 7.14% to 6.50p.
Reporting by Iain Gilbert at Sharecast.com
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