Jade Software is undertaking an international search to find a replacement for its chief executive, Rod Carr, who is taking up the vice chancellor’s role at Canterbury University.
“The education sector is one that is dear to my heart,” he says. “This is an opportunity to make a difference to a major institution.”
Carr says he hopes the search will proceed quickly and that there will be no need for an interim managing director.
Formerly deputy governor at the Reserve Bank, his appointment at Jade in July 2003 was a surprise to the IT sector. During those five years he made several changes to the company.
He says he regards his major achievements as:
• Putting the business on a sound financial footing
• Achieving growth both organically and by acquisition (the company bought Methodware and Empower)
• Evolving from a monoline technology to multi-line technologies.
In the year to September 30, Jade posted revenue to $51 million.
“It was the highest quarterly revenue in my time there and the highest quarterly net profit before tax in the past 10 years,” Carr says.
In December 2004, he raised $25 million in capital for the company.
He says he leaves Jade with $14 million cash in the bank and no debt falling due within two years.
“61% of our revenue is contracted a year or more in advance,” he says. Jade has 350 staff, around the same number as when Carr joined the company. Carr takes up his new role on February 1, 2009.