Fronde appoints CEO, announces profit
- 04 May, 2008 22:00
Fronde has appointed its former acting chief executive, Ian Clarke, to the role permanently. In a media release, Fronde chairman Philip Shewell is quoted as saying “We considered a number of candidates and are pleased that we have such a fine candidate from within the management team”.
Shewell goes on to thank Clarke for his role in turning Fronde’s fortunes around: the company also announced a profit of $700,000 for the half-year to March 31.
“On behalf of shareholders, the board offers a huge vote of thanks to Ian and the management team for their success in correcting a number of the problems we experienced last year,” Shewell says.
In the previous half-year, to September 30, Fronde recorded a $2.9 million loss.
Shewell says the turnaround was achieved by restructuring and cost-cutting.
“The board and management team have been particularly focused on recovering our position after the poor first six months trading last year and the achieved profit is very commendable in the circumstances,” he says.
“The management team has restructured the organisation, reduced overheads, and focused on our strong and loyal client base.”
Fronde has offerings in software development, banking solutions and managed services. Its customers include the ASB Bank and KiwiBank.