Double resignation blow for Freecom

Freecom.net chief executive Michael Williams and board member Bodo Heiss have today resigned from the ecommerce group just six days before it is due to change its name to Systems Union.

A veil of secrecy surrounds Williams’s decision, but the group said his departure “reflected the continuing realignment of the group, and marked the transition from its founder phase through a period of corporate activity to an established group focused on enhancing shareholder value”.

Group finance director Paul Coleman has been appointed to replace Williams with immediate effect.

Heiss has resigned to pursue “new business opportunities” with Williams.

Williams and Heiss were key players on the board that created Freecom, overseeing its admission to the Alternative Investment Market of the London Stock Exchange last year.

Chairman Bob Morton said: “We wish them both every success in the future.”

First published on accountancyage.co.uk