Chief financial officer at Datalex to resign

 

Software developer Datalex, which sells products to the travel industry, said yesterday its chief financial officer, Mr Liam Booth, would resign at the end of this month.

Mr Booth, leaving to take up other career opportunities, is the latest in a string of executives and board departures at Datalex, which is in the midst of a major restructuring plan.

Last month, company founder Mr Neil Wilson, resigned as executive chairman and two other executive directors left the board, as Datalex said it would delist from the Nasdaq exchange.

At that time analysts said the previous move was prompted by the desire of institutional investors for a "fundamental management reshuffle".

Yesterday they said Mr Booth's departure was probably in a similar vein as he would have been associated with the former management Datalex team.

Mr Booth, formerly head of corporate finance at Goodbody Stockbrokers, said the agreement was nothing more or less than expected in this type of arrangement but declined to comment further.

Datalex, whose market capitalisation has fallen to less than $10 million (€10.95 million) since last year, has had huge revenue drops as airlines moved to rein in expenditure following the terrorist attacks on September 11th.

Mr Ciaran McNally, group financial controller at Datalex, will take over responsibility for the finance function at the firm.