Oliver Vellacott founded IndigoVision in 1994 and led the company’s early development from inception. Having taken the business to this stage, a company statement says that “the time was right” for him to hand over the leadership.
The Board was keen for Vellacott to continue with the business as deputy chairman, but the position was declined.
New CEO Marcus Kneen joined IndigoVision in 2003 as chief financial officer and, ever since then, has had a key role to play in the development and ‘internationalisation’ of the business.
Reporting lines and new CFO
IndigoVision’s four regional sales directors – covering APAC, EMEA, Latin America and North America – will now report to Kneen who’s also set to chair the Executive Committee, consisting of the heads of engineering, product management, operations and finance.
The Board has appointed Holly McComb, currently financial controller, to succeed Kneen as CFO. McComb joined the business in 2006 and holds a First Class degree in engineering from Edinburgh University. McComb is also a member of the Institute of Chartered Accountants of England and Wales.
“In Holly we have a very capable CFO who has been second-in-command to Marcus for five years,” said Hamish Grossart, chairman of the Board.
Experienced senior management team
Grossart went on to state: “Oliver leaves the business with a strong and experienced senior management team, many of whom have been with the business for a considerable time and who are committed to build on the solid foundation Oliver created. The Board would like to thank Oliver for his excellent contribution and leadership over the last 17 years, and wishes him every success for the future.”
Commenting on Kneen’s appointment, Grossart explained: “Marcus has taken an increasing role in the business in recent years. He has been closely involved in IndigoVision’s international expansion and has overseen the recent improvement in trading. He’s therefore ideally suited to the task of taking the Group forward in the next stage of its development.”
Strong road map of new solutions
Kneen himself commented: “Oliver has been a great mentor over the years and remains the Group’s largest shareholder. IndigoVision has fantastic people and its strongest road map of new products for several years as a result of a sustained high level of investment in engineering. This will help the business to grow, building on in its deal-winning distributed architecture, industry-leading compression and ability to integrate with the elements of a total security system such as access control, perimeter detection, licence plate recognition or events from casino slot machines.”
He also said: “If you are defending a nation’s critical assets or operating a major casino, these features win deals!”
IndigoVision reports that the operating result for the first four months of the current financial year is “excellent”. Profit performance was significantly higher than the corresponding period last year, and materially ahead of the same period in any earlier year.
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