The IRIS corporate split – full chapter & verse
Apologies for abbreviated coverage yesterday – there are somethings that iPads are not so hot at coping with – and here is the full chapter and verse on the IRIS corporate announcements…
• The Board of IRIS Software Group Limited (yesterday) announced a revised company structure and new appointments to the Board, following the resignation of Martin Leuw as Group Chief Executive.
During Martin’s tenure as Group Chief Executive, IRIS has grown rapidly to become one of the largest private software companies in the UK, with 1,200 employees and c. 60,000 customers. Given its current size and complexity, the Board has decided that, following Martin’s decision to stand down, better customer focus can be achieved by formally separating the business into two, with IRIS Accountancy Solutions being run independently from IRIS Software Group.
Phill Robinson, Managing Director of IRIS Accountancy Practice Solutions Division for the last two years, will lead the newly created IRIS Accountancy Solutions (IAS) business as its CEO and joins the Board. Phill commented: “With over 14,000 Accountancy customers, IRIS Accountancy Solutions is the clear market leading provider of Accountancy software and services in the UK. I am delighted to have been asked by the Board to lead IRIS Accountancy Solutions through its next phase of development and growth.”
IRIS Software Group (ISG) represents all other divisions of IRIS and serves the following sectors; Legal, Not-for-Profit, Accounting & Finance, Payroll & HR, Field Service & Hire, Ticketing, Healthcare & GPs, Software modernisation and Software assets and compliance. The Board has initiated a search for a new CEO for IRIS Software Group. In the interim, Neal Roberts, who will continue as Group CFO, will also act as CEO. Otherwise the current management team remains unchanged.
In order to effect a smooth transition, the Board has appointed Nick Discombe as Chairman. Nick has been involved with IRIS since 2007 as a Non-Executive Director. Nick will work closely with Neal Roberts, Group CFO and acting CEO, IRIS Software Group, and Phill Robinson, CEO, IRIS Accountancy Solutions, as well as the rest of the Board, to ensure the on-going success of these two businesses. Martin Leuw will also remain involved with the business, as a Non-Executive Director, following his decision to stand down as Group Chief Executive.
Nick Discombe said: “A big part of any business success is to make sure that the organisation has the right focus at the customer level. Separating the business into these two new operating units will bring this increased focus. I would like to congratulate Phill on his appointment as CEO of IRIS Accountancy Solutions, and look forward to working with Neal, Phill and the rest of the Executive Management to drive even greater success for IRIS in the years to come”
• The Board of IRIS Software Group Limited (yesterday) announced the resignation of Martin Leuw as Group Chief Executive. After 10 years in charge at IRIS, Martin Leuw has decided to step down as CEO and move to a Non-Executive role in the business, enabling him to pursue other business interests, whilst remaining involved in the development of IRIS as a business.
Martin joined the company as Group Chief Executive in 2001, during which time IRIS has grown from 100 employees to 1,200. Group revenues have risen from £9m to £120m and market capitalisation from £30m to over £500m. Under Martin’s leadership IRIS has grown to become one of the UK’s largest private software houses and a sector specialist and market leader.
During this period of growth, Martin led two Management Buy Outs and has in the last few years recruited a leadership team of Divisional Managing Directors and Group Directors to take IRIS into its next phase of development and growth, enabling him to now step back from the day-to-day running of the business.
Martin Leuw said: “After 10 years leading IRIS through a period of exceptional growth, I felt it was time for me to pursue other business interests and entrepreneurial opportunities. I would like to take this opportunity to thank my team; all of our employees and of course our customers, whose loyalty has been integral to IRIS’ success to date. I look forward to a continued involvement with the business in a non-executive capacity”.
Nick Discombe, the newly appointed Chairman of IRIS added: “Having worked with Martin over the past few years, I know how deeply he cares about the business and particularly its employees and customers. Martin has clearly made a significant impact over his ten years leading IRIS and on behalf of the Board and the team at IRIS; we wish him every success with his new business ventures and look forward to his contribution to the future growth of the business as a Non-Executive Director.”
Comment: No comment, we'll leave it to readers to draw their own conclusions however we also spoke to Doug Hargrove, the managing director of IRIS Legal, who said that as far as the legal sector is concerned it would be “business as usual”. Hargrove's position is unchanged by the latest changes.