The founder and former managing director of Cirrus Networks, Frank Richmond, has left his boardroom role, five years after establishing the company.
The IT solutions firm, which is publicly-listed on the Australian Securities Exchange (ASX), told shareholders on 3 July that Richmond’s departure from the board was effective immediately.
Further, the company said that Richmond would not take up a non-executive director role, as had been previously flagged in May.
The move was prompted in part by Richmond’s heart surgery earlier this year and an imminent move overseas, the company said.
However, Richmond will continue to play a consultative role from afar, and is set to continue to play a role as a consultant, advising the executive team and providing strategic insight.
Richmond founded Cirrus as a private company in 2012. Under his guidance as managing director and more recently as executive director, its growth has surged, with the company building an extensive base of blue chip clients across industry sectors.
“Frank’s vision, hard work and dedication to customers and staff has seen the birth of a great organisation and one I am sure will live on as a wonderful legacy to Frank for many years,” Cirrus networks managing director, Matt Sullivan, said.
Cirrus Networks has also grown thanks to a number of strategic acquisitions under Richmond’s watch, including the 2015 purchase of Perth-based IT solutions provider, L7 Solutions, and the more recent acquisition of Melbourne-based IT provider, NGage Technology Group.
Just last month, the company revealed it had been raking in new sales since it acquired NGage Technology Group, earlier this year, recording more than $15 million in new orders.
Some of the new contract wins included a “significant order” from one of Australia’s top financial companies, as well as an infrastructure and services contract with a “major national energy stakeholder worth in access of $500,000”, the company said.