Interesting moves at well-known UK-based travel technology supplier firm Comtec with CEO Simon Powell stepping down to focus on being “an entrepreneur”.
Powell will become vice chairman of the Cwmbran, Wales company, but effectively moves out of day-to-day running of the business – a surprising switch perhaps given how synonymous Powell is with Comtec with the wider industry.
No other senior management changes were announced today.
In the short term Powell is replaced by a man occupying another temporary position at the company, interim chief operating officer Gordon Matthew.
He is an old hand at running private equity backed tech firms over the past ten years before joining Comtec, including Ramesys, RedSky and Azzurri Telecommunications.
Current chairman of Equidebt, Paul Woodley, also becomes non-executive chairman of Comtec.
Powell says Comtec is a “larger and more complex” business and should be under new leadership, giving him time to “focus on my core skills as a an entrepreneur”.
Comtec was subject to a management buyout in May 2008, supported by private equity firm RJD Partners.
