Datalex names David Hargaden as new chairman

Troubled travel software company Datalex has appointed David Hargaden as its chairman.

Mr Hargaden, former chairman of Cartrawler. com and MyHome.ie, will take up the role with immediate effect after Sean Corkery vacated the position to become the company's permanent chief executive.

Mr Hargaden is currently a technology investor and the chief executive of Unity Technology Solutions, an IT managed servies business. He started out as a chartered accountant before moving to become head of corporate finance at BDO Ireland between 2001 and 2008. It was during that time that he began sitting on company boards.

Commenting on his appointment, Mr Hargaden said: “I am excited to join the Datalex board as chairman and I am confident there is a significant market opportunity for Datalex.”

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Irregularities

Shares in Datalex have been suspended from the Irish Stock Exchange since May after a board-commissioned review found significant accounting irregularities at the company last year, when it lost $47.25 million (€42.7 million).

Revelations that it had overstated 2018 revenues rocked the company with its problems stemming from a contract with Lufthansa, to provide a single payment system for its five airlines, which ran over time and budget.

The company's existing clients include Air China, JetBlue, Hainan Group, SAS and Aer Lingus. Mr Corkery said Mr Hargaden's appointment will strengthen the business and "provide a fresh perspective".

“His appointment allows me...to focus on the running of the business and to lead Datalex to future growth,” he added.