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Listed ServicePower promotes CFO to CEO

AIM-LISTED ServicePower Technologies has promoted its chief financial officer Marne Martin to chief executive.

Martin joined the workforce management business in January this year as CFO, but will now succeed Mark Duffin who steps down from the role.

She took on the role of interim CEO in July when it was announced that Duffin was on gardening leave and due to step down in September.

Previously Martin was CFO of AIM listed Norcon, a telecommunications and defense consulting business. She led the IPO on AIM in 2008 and successfully completed primary and secondary share placements in 2009 and 2010.

She has also held senior roles at private equity business East West Resources, and telecommunications company Digicel Holdings.

At the time of Martin’s appointment to CFO Duffin said: “We are delighted to have secured someone of the calibre of Marne Martin to join the ServicePower board.”

“Her experience in corporate and global finance and strong understanding of the UK public company sphere will be invaluable to us as we continue to forge ahead with our US expansion while being committed to the delivery of increased shareholder value and financial strength,”

ServicePower Technologies announced a profit before tax of £219,000 for the first half of the year ended 30 June 2013, compared to a £567,000 loss for the same period a year ago.

Revenue for the business increased 31% to £7.34m compared to £5.59m for the first half of 2012.

A search for a finance director is underway, however, in the interim the company has a CPA qualified accountant based in the US office and a CIMA qualified accountant in the UK, to oversee the finance function.  

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