Wednesday, 3 December 2008

Steve Rowley to join Torex

(By Richard Holway) Very interested to learn that Steve Rowley is to join Torex as their CEO. See Torex Press Release. This is just days after Rowley stepped down from Anite (See HotViews 1st Dec 08 - Anite boosts profitability but loses CEO)

Torex (which is now privately owned) has had an ‘interesting’ past. You may remember that Torex originally had two parts – retail and healthcare. After Torex was sold to iSoft, the retail bit (re-renamed Torex) had some serious problems (like an SFO investigation). After it went into administration the assets were bought by a Private Equity player. Separately, iSoft had its own set of problems involving NPfIT and a not dissimilar set of corporate governance issues.

Given the current gloomy outlook for the retail sector, Rowley certainly knows how to pick ‘em.

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