Quadtel CEO Rod Orrock has resigned from his post at the ASX-listed broadband hardware distributor, departing at the end of the month to take up an executive position at Harvey Norman.
Orrock told ARN yesterday that he would be replacing Tim Edwards at Harvey Norman as the national manager of the computers and communications group under John Slack-Smith. He said his responsibilities will mainly revolve around the "day-to-day running of the group".
"I will be driving and implementing the marketing plans and generally driving the business to bigger and better things."
Orrock said he is excited up about the new opportunities emerging at the high-profile retail group. In the initial stages, his role will largely consist of liaising with suppliers and franchisees.
"When you look at what Harvey Norman is doing now and what they have planned for the future in terms of acquisitions and international expansion, it is really exciting to be a part of that," he said.
"It's a big business - worth over $700 million. I don't want to just be managing that business. I want to be driving it towards bigger and better things."
Orrock said that he will be retaining the shares he has accumulated through the acquisition of Marketing Results and over 16 months of employment at Quadtel. He said his holding in the company was "less than 2 per cent".
"Quadtel is as strong at is has ever been," he said. "Revenues have grown, costs have been brought under control and the company is heading back towards profitability. The cash situation is good and it holds some good assets.
"I have no intention of selling my share holding. After 12 years [at Marketing Results], I was just getting a bit tired of what I was doing. It is just the right time for me to go and address some new challenges."
Orrock will finish up at Quadtel at the end of July. His start date at Harvey Norman has not yet been finalised but he said that it would be some time "early in August".
Orrock started the software distribution business, Marketing Results, in 1990 and ran it successfully until selling it to Quadtel in March 2001. Later that year, he was appointed CEO and has been accredited with turning around the fortunes of the company.
In a press statement, Quadtel chairman David Ramsay "highly commended" Orrock's contribution to the company.
"Under Rod's leadership, the company has experienced impressive growth, established a remarkable national sales and distribution infrastructure, recruited high-level management, acquired strategic assets and has introduced innovative products," Ramsay said.
The statement also said that Ramsay would take over as interim CEO until a replacement could be found.
Harvey Norman's Edwards is moving away from the computers and communications group to run Space Furniture, Harvey Norman's high-end, designer household goods brand.