Freecom share price rises as CEO departs
Freecom.net has lost its chief executive Michael Williams, who has resigned suddenly, causing the company’s share price to rise by 16%.
LONDON (Brand Republic) - Freecom.net has lost its chief executive Michael Williams, who has resigned suddenly, causing the company’s share price to rise by 16%. The company’s commercial director Bodo Heiss has also left the company.
Williams resigned to “pursue new business opportunities” and has been replaced by finance director Paul Coleman.
Freecom provides e-commerce services, hosting and domain registration to SMEs. Under Williams’ leadership, Freecom embarked on an acquisition spree, which sometimes drew criticism from investors and analysts. After the company’s flotation in November last year, three acquisitions were made including the loss-making Systems Union Group.
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