Marcus Kneen appointed CEO of IndigoVision

The Board of IndigoVision announced on 9^th December the appointment of Marcus Kneen as Chief Executive Officer of IndigoVision, succeeding former CEO and founder Oliver Vellacott.

Oliver founded IndigoVision in 1994 and led the company's early development from inception. Having taken the business to this stage, the time was right for him to hand over the leadership of the company. The Board was keen for Oliver to continue with the business as deputy chairman, but the position was declined. Marcus joined IndigoVision in 2003 as Chief Financial Officer and has had a key role in the development and internationalisation of the business since then.

IndigoVision's four regional sales directors, covering APAC, EMEA, Latin America and North America will report to Marcus who will also 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 Marcus as Chief Financial Officer.  Holly joined the business in 2006 and holds a First Class Engineering degree from Edinburgh University and is a member of the Institute of Chartered Accountants of England and Wales. "In Holly, we have a very capable Chief Financial Officer who has been second-in-command to Marcus for five years," said Hamish Grossart, chairman of the Board.

Hamish Grossart commented: "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 wishes to thank Oliver for his excellent contribution and leadership over the last 17 years and wishes him every success for the future.

"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 is therefore ideally suited to the task of taking the Group forward in the next stage of its development."

Marcus 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. If you are defending a nation's critical assets or operating a major casino, these features win deals!"

IndigoVision reported that the operating result for the first four months of the current financial year had been excellent.  Profit performance was significantly higher than the corresponding period last year, and materially ahead of the same period in any earlier year.