Tesserent has announced a market update on its operational performance, trading performance and a change in the leadership of the Group.
- Significant organic and non-organic growth has been achieved over the last two years with FY21 posting a 372% increase in turnover compared to FY20. Year to date to October 2021, turnover growth is 67% and divisional EBITDA growth is 150% compared to prior year period.
- Key operating measures such as ARR (at 42%) and organic growth (at 41% YTD vs. PCP) at record levels.
- Organisational changes at the management level:
- Kurt Hansen will take over as sole CEO
- Geoff Lord to step into the role of Executive Chairman
- Julian Challingsworth will step down from the Board and take on the role of Chairman of Tesserent Innovation in addition to providing ongoing consulting support to the business on M&A work and Investor relations
- The CFO, James Jones, will take on broader responsibilities across M&A and Investor relations bringing direct experience in these areas from his time at Deloitte and EY
- Tesserent intends to hold investor roadshows in December 2021 where further details will be provided
