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By | Paul Kunert 26th September 2013 11:39

Intrinsic now on third CEO in less than two years

Darron Antill joins the musical chairs game

British IT and unified comms reseller Intrinsic Technology has welcomed on board its third chief executive in less than 18 months, with channel veteran Darron Antill the latest to fill the hot seat.

Intrinsic went through a management buy-out in summer 2011 led by then-CEO Mike Mason. He headed for the exit the following March, and is now at small tech dealer avsnet.

Antill rocked up this month to replace Adam Jarvis, who succeeded Mason in May 2012. Jarvis will return to his role as sales and commercial director at the Merseyside-based outfit.

Prior to Intrinsic, Antill spent more than three years at AppSense, the US-headquartered virtualisation, mobile and desktop management vendor. Before that he was CEO at UK services outfit Vistorm, which was acquired by HP when it slurped up EDS in 2008.

There have been other senior moves internally in this year, with former Insight service director Steve Browell joining as Intrinsic CTO in January, just after Dave Griffiths joined as head of corporate sales.

And more recently, in May, Rachael Nevins landed as chief financial officer, replacing Carl Plucknett, who left in April after just nine months on board.

In a canned statement, Antill said the new management team in place will be looking to boost its managed services and cloud business, as is de rigeur in the channel these days.

Despite all the senior changes, Intrinsic's results have been headed in the right direction with sales in the year to 30 November 2012 up 17 per cent to £36.4m and operating profits coming in at £2.94m, versus an operating loss of £5.32m in the prior year.

This loss had been caused by exceptional share option charges (£7.4m) and the write-off of an employee benefit trust loan (£512k).

Directors described the fiscal '12 financials as "encouraging" in a "challenging market" on the back of a spike in managed services contracts. ®

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