Softcat PLC on Tuesday said it has promoted Chief Financial Officer Graham Charlton to chief executive officer.

Softcat said the promotion of Graham Charlton will be effective from August 1, 2023.

Charlton has been CFO at Softcat for the past eight years, and the company believes he is ‘the right person to lead the business successfully through the next stage of its growth’.

The company said Charlton will replace Graeme Watt as CEO who will, in turn, succeed Martin Hellawell as non-executive chair. Hellawell will step down from the role and board upon Watt’s succession.

The Marlow, England-based IT infrastructure provider explained: ‘At the time of succession, Graeme will have been CEO of the business for over five years. This move has been carefully considered by the board, which acknowledges that the appointment of the CEO into the role of the chair is not in line with the recommendations of the UK Corporate Governance Code.

‘However, the board was unanimous that Graeme’s deep knowledge of the business, Softcat’s culture and its markets made him the ideal candidate to support the interests of all our stakeholders.’

Softcat also said a search for a CFO to succeed Charlton has begun, and it will consider external as well as internal candidates.

Shares in Softcat were down 2.7% at 1,284.00 pence in London early Tuesday.

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