Redcentric appoints Chris Jagusz for recovery
IT managed service provider Redcentric has a new CEO, in the form of ex-Azzurri Communications boss Chris Jagusz. He will officially start on 16 October 2017. In the meantime, Redcentric has provided an update on trading for the first six months ended 30 September 2017.
Jagusz served at Azzurri up to August 2016, before it was acquired by Maintel. He was also previously managing director of SSE Telecoms and Daisy Group, and has held senior roles at BT.
The company is still recovering from a £3m operating loss for its last full year and a miss-reporting financial scandal that has seen previous heads roll. Redcentric says the first six months have “been in line with management expectations”. And “good progress” has been made in reducing the net debt position to £33.3m, which is “ahead of management's expectations”. The company will report its interim results on 29 November 2017.
Chris Cole, chairman of Redcentric, said: “Chris has an outstanding track record both in telecoms and as a business leader. The board are confident he is the right person to take Redcentric forward."
Redcentric sold its network assets to CityFibre last year but has access to other networks to support its services via leasing agreements.