Business World

Friday 18 October 2019

Crisis-hit Datalex hires ex-Google director as CFO

Earlier this month Aidan Brogan resigned as Datalex CEO
Earlier this month Aidan Brogan resigned as Datalex CEO
Ellie Donnelly

Ellie Donnelly

Former Google executive Niall O'Sullivan has been appointed chief financial officer of troubled travel software firm Datalex.

Mr O'Sullivan takes over from Dónal Rooney, the former Nama executive who announced he was leaving the company in February after less than four months in the role.

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Prior to joining Datalex, Mr O'Sullivan was finance director at Google EMEA, where he had responsibility for accounting, financial compliance and contractual controls for the EMEA region. He has led global finance operations and executed finance transformation projects for technology PLCs such as Pearson and Vodafone, and with corporations such as Oracle and Dell.

Sean Corkery, interim CEO of Datalex, said he looked forward to working with Mr O'Sullivan. "Niall brings a wealth of financial and operational experience which I know will add significant value to our future performance and growth," he said.

Earlier this month, Datalex CEO Aidan Brogan resigned. His resignation came a week after the group's chairman Paschal Taggart announced he was stepping down, having served as a director at Datalex for 17 years and chairman for nine.

At the beginning of this month Datalex suspended trading in its shares because it was not able to publish financial accounts by April 30, as required under Central Bank of Ireland rules.

Trading will remain suspended until the accounts have been published, which it is understood may not happen until the end of June.

The company itself earlier this year launched a review of its 2018 financial performance after uncovering what the board described as "significant accounting irregularities".

A report by PwC for the company found it had failed to apply the international IFRS 15 accounting standard "appropriately" to its results for the first half of 2018.

That relates to rules on how future revenue streams from contracts with customers are booked. The misstated results for the first half of 2018 were down to early recognition of revenues associated with a significant customer.

Irish Independent

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