Financial software specialist Focus Solutions has recruited a new chief executive to help drive the business through a new phase of growth.
Richard Stevenson, aged 39, previously chief executive and president of Business Agility, will replace founder John Streets in the role from March 1.
Mr Streets will remain on the board of the Leamingtonbased company as a non-executive director, it was announced yesterday.
Focus, whose major customers include insurer Zurich and Barclays, Aim-listed.
Its latest accounts show a pretax loss for the six months to September 30, 2005 of £585,000 compared with a deficit of £809,000 in the same period the year before. Revenues for the period rose by 42 per cent to £2.7 million.
Mr Streets said at the time of the interims announcement that Focus had won big new contracts and was looking to develop additional revenue streams.
He has led the company for ten years and took it to market in 2000.
Mr Streets supports the appointment of Mr Stevenson and said yesterday that he was pleased to remain involved with the group's "next significant step".
Chairman Alastair Taylor said Mr Stevenson was "an outstanding individual with a proven track record".