John McArthur is stepping down as chief executive of traffic data firm Tracsis and will be replaced by Chris Barnes.
McArthur (above) will leave in the first half of 2019 “to focus on family and other non-business matters outside the group”. He will continue to work with Tracsis in a part-time advisory capacity with a remit of advising and assisting on further M&A activity.
Barnes, who is currently head of engineering group Ricardo’s UK automotive consulting division, will join on February 4th as CEO designate.
He said: “I am excited to be appointed chief executive of a highly-respected and fast-growth business such as Tracsis. With more than 20 years’ experience working across the transportation and software sectors and having completed numerous M&A transactions, I look forward to working with the board and the management team to continue the growth trajectory and deliver on the numerous organic and acquisitive opportunities open to the business in the coming years.”
McArthur added: “It has been my pleasure and privilege to serve Tracsis over the past 14 years and I am proud of what our team has achieved in taking a small University spin-out and developing it into the successful technology company we see today.
“After careful consideration about my own future aspirations, now is the right time to transition out of the business and allow a new leader to take up the reins for our next phase of growth.
“As a significant shareholder in a business I helped create, the continued success of Tracsis is of utmost importance to me. My transition comes at a time when the group is very well positioned for the future, has a clear strategy, a great management team, and a strong pipeline of organic and acquisitive opportunities.
“I have every confidence in Chris and believe his experience, passion and ambition – combined with the significant talent of our existing team – will drive the business to new heights.”