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By | Paul Kunert 10th June 2011 09:33

Channel CFOs break free

Kelway and Avnet finance bosses exit stage left

The chief financial officer at Kelway - who oversaw the major acquisitions the reseller monster had made in recent years - is leaving by mutual consent at the end of the month and plans to set up a consultancy advising other channel businesses on a buy and build strategy.

Craig Compton joined London-based reseller joined Kelway at the end of 2007, six months after it bought ailing dealer Elcom out of administration, and was on board during the buys of Repton, Panacea, SAM Practice and most recently ISC Computers.

One of his last tasks at Kelway will be to sign off accounts for the year to 31 March 2010.

"I am setting up a consultancy firm designed to help companies with M&A activity, it will have a specific lean toward IT and private equity," he told El Reg.

From 1997, Compton was director of finance EMEA at Veritas Software. He joined Mercury Interactive seven years later as senior director of finance for international operations but left in the summer of 2007 some time after it was acquired by HP.

Phil Doye, chief executive at Kelway, said Compton was leaving by "mutual consent", adding that "with our strong finance team in place we do not envisage making an early appointment".

In other exec moves, Avnet has parted company with UK and Ireland finance director Nick Lee. "I can confirm that he has left and we wish him all the best but I cannot say any more," said UK country manager John Toal is a statement.

Industry old timer Lee joined Ideal Hardware in 1998 as financial controller, and following the distributor's acquisition by Bell Microproducts, rose to CFO for Europe in 2001, but was demoted to a local territory role after Avnet bought Bell last year. ®

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