ASX-listed managed services provider Data#3 has announced that its chief executive and managing director Laurence Baynham is stepping away from the company after 29 years.
Baynham will leave Data#3 on 1 March 2024, having led the company since 2014.
He will be replaced as CEO and managing director by fellow channel veteran Brad Colledge, Data#3's current executive general manager of software solutions, infrastructure solutions and services.
Colledge has been with Data#3 for 28 years, having joined the company in 1995 as an account executive.
He went on to create its licensing solutions business in 1997, leading it for 17 years before taking on responsibility for the broader software solutions business in 2013.
In 2014, Colledge expanded his remit to the infrastructure solutions business and more recently services.
“In my tenth year as managing director and CEO I believe now is the right time to hand over the baton," Baynham said.
"Data#3 has never been in better shape, and I am proud of the growth we have achieved during this time, with our market capitalisation increasing tenfold. As I cease my role as a full-time executive, I will consider turning my attention to non-executive roles."
"Brad has my 100% backing and is exceptionally well placed to lead Data#3. He joined the company just one year after I did and has an intimate knowledge of the business."
"He has already had considerable responsibility across different operational aspects and as a key member of the senior leadership team has been instrumental in setting its strategic direction for some time."
Colledge said that Bayham has been "an exceptional and valued leader."
"He leaves a mammoth legacy after a decade as managing director and CEO and nearly three decades in the business," he said.
"Data#3 is the market leader in Australia with a high-quality customer base built over many years thanks to our diverse offering, strong industry relationships and exceptional team."
"I am excited to be taking over at a time when the industry is evolving so rapidly, with Data#3 at the forefront of driving this change.”
In September, Data#3's chairman Richard Anderson announced his retirement from the company's board at the end of this month, with Mark Gray taking over.
Anderson praised Baynham for his "outstanding leadership" and "enormous contribution" to Data#3.
"I am also pleased with Brad’s future appointment and I am sure he will have the support of the entire Data#3 team," he said.
"The changes we have announced are all part of a carefully developed succession plan to ensure continuity and confidence in the business going forward."
"I would like to take this opportunity to thank Laurence for his nine years as CEO/MD, and to congratulate Brad on his appointment into the role next year.”
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