Vinasty – the official release
This is the latest episode of the Vin Murria saga (or Vinasty as one of our readers put it – more drama than Dynasty tho without the shoulder pads) and we quote verbatim the official statement issued earlier today (Thursday) by IRIS…
“IRIS Software Group, which is now listed as one of the top business software houses (top 6) in the UK with market leading positions in the Accounting, Legal and Not For Profit sectors, has announced details of its new Group management structure, following the recent merger of IRIS and Computer Software Group.
Martin Leuw, previously CEO of IRIS, has been appointed as Group Chief Executive of the newly enlarged IRIS Software Group. Martin joined IRIS in May 2001 and has successfully built the business from £9m to well over £100m revenues, following the merger. Neal Roberts, formerly IRIS‚ CFO, becomes the Group CFO. Neal will be responsible for the new Group's Finance, Legal and HR operations in his role as Chief Financial Officer. He will be supported by Barbara Firth, previously CFO of CS Group, who takes on the newly created role of Acquisition & Integration Director.
Vin Murria, employed as Chief Executive Officer of Computer Software Group until the deal was completed on July 3rd has decided to step down in order to pursue fresh projects. Vin was instrumental in achieving the rapid growth of the CS Group business, and in the last four years of her time with CS Group helped the business grow from a £2.6m market capitalisation to, following the merger with IRIS, a combined valuation of £500m.
The enlarged Group will be divided into five Business Units to provide a dedicated customer focus and to create Centres of Excellence for both product and service:
Accounting Practice Solutions – MD, Robert Salvoni (from IRIS – no change)
Legal & Compliance – MD, Arlene Adams joins the Group on July 9th
Not for Profit & Business Solutions – MD, David England (from CS Group – no change)
Accounting & Business Solutions – MD, Stuart Dawson (from IRIS – no change)
Payroll & HR – acting MD, Martin Leuw (from IRIS – no change)
For the Group's customers, it will be very much 'business as usual'. During the coming months, the new business will take the best practices from both IRIS and CS Group to create the highest-quality product sets and market leading levels of customer service, which both organizations have built their reputations on.”
As ever, readers are free to comment on this story.
I would just add, as I noticed some people taking exception to my remarks about Vin Murria's impact upon the market: an impact doesn't necessarily have to be positive. The Chicxulub Meteor made more impact upon the dinosaurs in one minute than the previous 200 million years of evolution (I know, this will offend creationists).