By editorial@silicon.com, 15 March 2001 15:30
NEWS The mobile distributor's shares plummeted by over 37 per cent to 22p following an avalanche of dismal announcements that included a loss in its results for the year ended 31 March due to exceptional charges connected to a restructuring at the company. Coupled with this, job losses are expected at the 600 strong company while the current chief executive Warren Hardy is splitting his role to become executive chairman, under which title he will deal with City responsibilities. David McKinney is joining European Telecom from Motorola to become group managing director, responsible for the day to day running of the company. His job is a culmination of the International managing director and the UK managing director roles. The roles are currently held by Colin Cartwright and John McFarnon respectively who have both resigned and will leave European Telecom over the coming weeks. Edward Belgeonne, a non-executive director, will step down as his role as chief executive of Global Telematics has been deemed incompatible with his other position.
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