The founder and chief executive of Performix Technologies, Mr Cathal McGloin, has stepped aside from the Irish software firm to pursue other interests.
Performix, which develops software that monitors the performance of employees working in call centres, made the announcement yesterday as it appointed a new chief executive.
Mr McGloin will not retain a position on the Performix board, although he will remain one of the firm's largest shareholders.
The firm, which has raised close to $35 million (€28.8 million) in funding since it was founded in 1998 by brothers Mr Cathal and Mr Ray McGloin, said it had appointed Mr Bill Mahoney as its new chief executive.
Mr Mahoney, an American who was formerly chief executive of the energy and utility firm Excelergy, has more than 30 years' experience in the software industry. He has worked for Dun & Bradstreet Software, Computer Consoles and Digital Equipment Corporation.
Mr Mahoney told The Irish Times that Performix Technologies was generating revenues worth $11 million per year and he expected to grow the company by 20-50 per cent every year.
"The plan is to grow the company organically and, in the future, look at an initial public offering or a premium acquisition," he said. "But this is not in the short-term. Now we are focused on growing the business one client at a time."
Mr Mahoney said he could not speak for Mr McGloin about his decision to step aside from the company. But he said it was not unusual for founders to move on when a company reached a certain stage of development.
"Clearly the skill sets required to take a company from inception to $10 million are different from those required to take a company on from there," he said.
Performix Technologies' software is currently deployed in more than 115 locations across six countries.
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