Datacom chief executive Jonathan Ladd will step down after more than seven years in charge next April, handing over the reins to one of the IT service provider's key executives, Greg Davidson.
The privately-held company, which counts the New Zealand Superannuation Fund as a cornerstone investor, today announced Davidson will succeed Ladd from April 2018, stepping up from his current position as head of Datacom Systems New Zealand and Australia. Ladd said Davidson was his "natural successor".
"During Jonathan's more than seven years as group CEO, he has driven strong performance across the business, both financially and culturally, through the senior leadership team," chair Craig Boyce said in a statement. "Datacom has adapted to a rapidly changing operating environment, forged new markets and continued to thrive. Financial performance has been consistently strong."
In August, Wellington-based Datacom reported a 61 per cent increase in annual profit to $43.7 million on a 9.8 per cent lift in revenue to $1.16 billion, having expanded its footprint in New Zealand and Australia as one of Australasia's largest IT services providers. At the time, Boyce said the company was preparing to offer a broader range of services as it built up its presence across Asia.
Boyce today said Davidson was already in charge of Datacom's biggest business and had been "instrumental" in restructuring the New Zealand and Australian units.
"The board of directors are confident that Greg will rise to his new leadership role and unlock further opportunities for differentiation and growth with Datacom's customers," he said.