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Alcock exits Morse

by Stuart Wilson, Wednesday 9 July 2008

Kevin Alcock, chief executive at London-quoted UK-based integrator and IT services provider Morse, is leaving the company with immediate effect. Kevin Loosemore becomes executive chairman at the company. The news of Alcock’s departure was contained in a trading update from Morse, which revealed that sales for the year ending June 2008 would be marginally down compared to last year’s sales figure of US$507.8m.

The company announced that second half sales were higher than first half sales for the year ending June, but conceded that Morse had experienced a deterioration in demand for services in the last few months as customers reduced discretionary spending. Project issues and weaker performance in its Spanish operation means that Morse is predicting pre-tax profits of approximately US$24m.

Loosemore commented: "Over the past few months, in a deteriorating business climate we have undertaken a review of the company’s operations. The board has concluded that the structure of the group needs to be simplified to allow the individual business units to concentrate on their core competencies. With immediate effect Morse will operate as five businesses each of which will be reporting to me.”

The five units are: investment management consulting, business applications services and infrastructure services and technology in the UK, Spain and Ireland. Morse operates as a consulting, IT services and technology company and works with major vendors including Symantec, Oracle, SAP, HP and Microsoft.

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