‘New direction’ for boss after fall in Promethean’s revenues (From Lancashire Telegraph)
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‘New direction’ for boss after fall in Promethean’s revenues
2:30pm Friday 27th July 2012 in Health
By Jonathon Dillon, Assistant news editor
CAREER Jean-Yves Charlier
THE chief executive of technology firm Promethean has announced his resignation after a dramatic drop in revenues.
Jean-Yves Charlier said he would step down from the Blackburn-based school whiteboard maker in October to explore 'a new direction in his career'.
It comes as the company revealed revenue had dropped 22.9 per cent to £83.2million in the six months to June 2012.
The company, which makes interactive tools, displays and systems for use in classrooms, also reported an operating loss, before tax, of £148.5millon.
The loss was caused by a non-cash goodwill impairment of £140.5million, a company statement said.
Announcing the results, Mr Charlier said: "The education market is facing a major challenge.
"On the one hand, the benefits of classroom technology are increasingly recognised by teachers and educational authorities around the world.
"At the same time, budgetary pressures are seriously constraining educational spending. This has meant that while the speed of adoption of educational classroom technology has been slower than anticipated, the manner of its evolution has not.
“Against this difficult market backdrop, we have made further good progress with our technology and product offering."
The company, which employs 200 people in Blackburn, said it was assuming there would be no improvement in market conditions in the near-term and now planned to reduce its operating cost base by up to 25 per cent from 2011 levels.
Jim Marshall, currently president of Promethean’s North American business, has been appointed as chief executive designate and will become chief executive following Mr Charlier's departure.
Mr Charlier joined Promethean World in 2007 as chief executive and has led the management team since that time.
Mr Marshall has more than 30 years of experience in high technology and educational businesses, including Apple and Oracle. He joined Promethean World in April 2011.
Comments(12)
vintageclaret
says...
3:33pm Fri 27 Jul 12
tntoast wrote:Wrong page for your comment I think. Shouldn't this be on a BRFC blog?
ship, sinking, jumping, rats ,spring to mind
Noiticer
says...
3:45pm Fri 27 Jul 12
tntoast
says...
3:56pm Fri 27 Jul 12
vintageclaret wrote:No don't do silly things like 22 over paid idiots running round after a lump of old cow no matter what part of the country they are from.
tntoast wrote:Wrong page for your comment I think. Shouldn't this be on a BRFC blog?
ship, sinking, jumping, rats ,spring to mind
needle hot red eyes come to mind
tntoast
says...
3:56pm Fri 27 Jul 12
vintageclaret wrote:No don't do silly things like 22 over paid idiots running round after a lump of old cow no matter what part of the country they are from.
tntoast wrote:Wrong page for your comment I think. Shouldn't this be on a BRFC blog?
ship, sinking, jumping, rats ,spring to mind
needle hot red eyes come to mind
boomtown
says...
11:59pm Fri 27 Jul 12
Michael@ClitheroeSince58
says...
12:26am Sat 28 Jul 12
Kevin, Colne
says...
6:28am Sat 28 Jul 12
Toti Dogsto
says...
8:34am Sat 28 Jul 12
Kevin, Colne wrote:Perhaps the products are too dear. I poked all over the website this morning without discovering what these things cost. "How to Buy" lead to an enquiry page. Giving a price is too plain for these guys, or too risky.
The report from the company states that the anticipated up-lift in US sales during the peak selling season failed to meet expectations but offers no explanation for this. There are three possible reasons: the expectations of the company were woefully optimistic, the education authorities in the states are cutting spending - a number of states are in real financial difficulty – or, as Michael says, customers have found other technology to be just as effective. If it is false expectations then the matter can be put right, but if the reason is restraint upon public expenditure and/or technological obsolescence then this suggests structural changes are at the root of the problem; and that’s far more worrying.
darwenTower
says...
3:22pm Sat 28 Jul 12
Toti Dogsto wrote:When Labour were in power price didn't matter.
Kevin, Colne wrote:Perhaps the products are too dear. I poked all over the website this morning without discovering what these things cost. "How to Buy" lead to an enquiry page. Giving a price is too plain for these guys, or too risky.
The report from the company states that the anticipated up-lift in US sales during the peak selling season failed to meet expectations but offers no explanation for this. There are three possible reasons: the expectations of the company were woefully optimistic, the education authorities in the states are cutting spending - a number of states are in real financial difficulty – or, as Michael says, customers have found other technology to be just as effective. If it is false expectations then the matter can be put right, but if the reason is restraint upon public expenditure and/or technological obsolescence then this suggests structural changes are at the root of the problem; and that’s far more worrying.
They would borrow money and chuck it at whatever scheme was on offer.
Realistically the country couldn't afford to rebuild every school and kit it out with unnecessary gadgetry.
Now Labour are gone companies like this one are knackered.
Michael@ClitheroeSince58
says...
9:57pm Sat 28 Jul 12
darwenTower wrote:It was a nice way to slip lots of cash into friends back pockets for total junk technology, a total disgrace.
Toti Dogsto wrote:When Labour were in power price didn't matter.
Kevin, Colne wrote:Perhaps the products are too dear. I poked all over the website this morning without discovering what these things cost. "How to Buy" lead to an enquiry page. Giving a price is too plain for these guys, or too risky.
The report from the company states that the anticipated up-lift in US sales during the peak selling season failed to meet expectations but offers no explanation for this. There are three possible reasons: the expectations of the company were woefully optimistic, the education authorities in the states are cutting spending - a number of states are in real financial difficulty – or, as Michael says, customers have found other technology to be just as effective. If it is false expectations then the matter can be put right, but if the reason is restraint upon public expenditure and/or technological obsolescence then this suggests structural changes are at the root of the problem; and that’s far more worrying.
They would borrow money and chuck it at whatever scheme was on offer.
Realistically the country couldn't afford to rebuild every school and kit it out with unnecessary gadgetry.
Now Labour are gone companies like this one are knackered.
Michael@ClitheroeSince58
says...
1:18am Sun 29 Jul 12
tntoast says...
3:25pm Fri 27 Jul 12