Bytes Tech Share News (BYIT)

(Alliance News) - Bytes Technology Group PLC on Friday confirmed Sam Mudd as chief executive officer, effective immediately.

Bytes is a Surrey, England-based software, security, AI, and cloud services provider.

Mudd has been serving as interim CEO since February, after Neil Murphy resigned after disclosing to the BTG board a number of undisclosed trades in company shares.

The resignation followed a voluntary request for information from the UK Financial Conduct Authority, sent to Murphy on February 14. The RFI indicated that Murphy may have conducted additional transactions that were not disclosed to the market or the FCA.

Murphy was due to present his initial response at a board meeting on February 21, but instead resigned on that date.

In March, the firm launched an investigation into Murphy's share dealings.

Mudd has served on the BTG board as an executive director since July 2023. For the past 10 years, she has been managing director of Phoenix Software Ltd, which was acquired by BTG in 2017.

Commenting on Mudd's appointment, Chair Patrick de Smedt said: "Her knowledge of our business, our customers and our vendors is second to none. As interim CEO and in her previous role as managing director of Phoenix, Sam has demonstrated her natural ability as a leader and her ambition to take BTG forward. The board agreed that she was the outstanding candidate for the role, and we are all looking forward to continuing to work closely with her to capitalise on the significant opportunity ahead."

Mudd commented about Bytes: "What has become even clearer in the past few months is the strength of our relationships with customers and the depth of our vendor partnerships."

In addition, Bytes hired two new non-executive directors.

Ross Patterson joins the board on June 1. He was chief financial officer of transport provider Stagecoach Group Ltd for 10 years. He currently serves on the boards of Unite Group PLC and Tracsis PLC as a non-executive director.

Anna Vikstrom Persso, the former chief human resources officer for publisher Pearson PLC, also will join the board on June 1.

Shares in Bytes Technology Group were down 0.1% at 499.80 pence each in London on Friday morning.

By Sabrina Penty, Alliance News reporter

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