Fronde hires former F&P Appliances executive Anthony Belsham

Fronde hires former F&P Appliances executive Anthony Belsham as new CEO

By Paul McBeth

Dec. 1 (BusinessDesk) - Fronde Systems Group, which provides IT services to businesses, has hired former Fisher & Paykel Appliances executive Anthony Belsham as its new chief executive.

Auckland-based Belsham will take charge of Fronde's trans-Tasman and Philippines based operations on Dec. 7, replacing Ian Clarke who held the role for seven years, the company said in a statement. Clarke signalled his exit in July, while saying he wanted to remain a shareholder, with about 8.3 percent of the company, and followed the departure of former chairman Wayne Norrie, who resigned in the 2015 financial year.

Wellington-based Fronde sank into the red in 2015, posting a loss of $2.8 million in the 12 months ended March 31 on revenue of $59.6 million. A decline in Wellington sales sparked a restructure in the second half of the year, cutting staff numbers and closing its Christchurch office.

"I am excited to be joining the team at Fronde, which I believe has a bright future," Belsham said. "We have some challenges to address in the short term, but I believe we can continue to evolve as a business and achieve profitable growth."

The company's shares are listed on the Unlisted platform, and last traded at $1 in January of this year, valuing the company at some $7.1 million. Fronde had wanted to grow to a $200 million annual revenue company by 2017 after generating rapidly growing sales in the three years before the Wellington slowdown hit trading last year.

(BusinessDesk)

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