Fronde hires former F&P Appliances executive Anthony Belsham as new CEO

Tuesday 1st December 2015

Fronde Systems Group, which provides IT services to businesses, has hired former Fisher & Paykel Appliances executive Anthony Belsham as its new chief executive.

Auckland based Belsham will take charge of Fronde's trans-Tasman and Philippines based operations on Dec. 7, replacing Ian Clarke who held the role for seven years, the company said in a statement. Clarke signalled his exit in July, while saying he wanted to remain a shareholder, with about 8.3 percent of the company, and followed the departure of former chairman Wayne Norrie, who resigned in the 2015 financial year.

Wellington based Fronde sank into the red in 2015, posting a loss of $2.8 million in the 12 months ended March 31 on revenue of $59.6 million. A decline in Wellington sales sparked a restructure in the second half of the year, cutting staff numbers and closing its Christchurch office.

"I am excited to be joining the team at Fronde, which I believe has a bright future," Belsham said. "We have some challenges to address in the short term, but I believe we can continue to evolve as a business and achieve profitable growth."

The company's shares are listed on the Unlisted platform, and last traded at $1 in January of this year, valuing the company at some $7.1 million. Fronde had wanted to grow to a $200 million annual revenue company by 2017 after generating rapidly growing sales in the three years before the Wellington slowdown hit trading last year.

BusinessDesk.co.nz

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