RCS - FD Technologies PLC - Appointment of Ashok Reddy as CEO of KX

FD TechnologiesAnnouncement

05/08/2022 07:00

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RNS Number : 9942U  FD Technologies PLC  05 August 2022

 

 

5 August 2022

FD Technologies plc

("FD Technologies" or the "Group")

 

Appointment of Ashok Reddy as CEO of KX

 

FD Technologies (AIM: FDP.L, Euronext Growth: FDP.I) announces the appointment
of Ashok Reddy as Chief Executive Officer of KX, reporting directly to Group
CEO Seamus Keating.

 

With an established track record of building and growing global technology
businesses, Reddy joins KX at an optimal moment, with growth in annual
recurring revenue accelerating and the signing of a landmark strategic
partnership agreement with Microsoft earlier this year positioning KX for
further growth.

 

"The market opportunity for KX is considerable," said Reddy. "Real-time
analytics is one of the most exciting spaces in technology today, and the
opportunity for KX is evidenced by the growing number of new customer
agreements in industries outside our core financial services base. I'm looking
forward to leading the business, using my experience in developing and
implementing strategies that deliver rapid growth to create value for
stakeholders."

 

Reddy has more than 20 years of experience leading teams and driving revenue
for Fortune 500 companies. He spent ten years at IBM where he led the
end-to-end delivery of enterprise products and platforms for a diverse
portfolio of global customers. During his tenure, he more than doubled revenue
and created a DevOps category that exceeded $350m in new revenue.

 

At CA Technologies, Reddy delivered growth in revenue and profitability,
focused on the world's largest financial services customers and cloud-based
DevOps and AIOps product lines. A similar role at semiconductor firm Broadcom
saw Reddy establish the company's first enterprise software division and the
formulation and implementation of a new business model that drove growth and
more than tripled net margins in less than a year. Most recently, Ashok was
the CEO of Digital.AI, driving rapid revenue growth and establishing it as the
leader in AI-driven DevOps value stream management.

 

Commenting on the appointment, FD Technologies CEO Seamus Keating said: "We're
delighted to have Ashok join as CEO of KX. His track record of success in
enterprise software, driving product and commercial strategies is a perfect
fit as we look to accelerate our growth following a transformational year for
the business."

 

Enquiries

For further information please contact:

 

 FD Technologies plc                               +44(0)28 3025 2242

 Seamus Keating, Chief Executive Officer           www.fdtechnologies.com (http://www.firstderivatives.com)

 Ryan Preston, Chief Financial Officer

 Ian Mitchell, Head of Investor Relations

 Investec Bank plc (Nominated Adviser and Broker)  +44 (0) 20 7597 5970

 Andrew Pinder

 Carlton Nelson

 Virginia Bull

 Goodbody (Euronext Growth Adviser and Broker)     +353 1 667 0420

 David Kearney

 Don Harrington

 Finbarr Griffin

 J.P. Morgan Cazenove (Broker)                     +44 (0) 20 7742 4000

 James A. Kelly

 Mose Adigun

 FTI Consulting                                    +44 (0)20 3727 1000

 Matt Dixon

 Dwight Burden

 

About FD Technologies

FD Technologies is a group of data-driven businesses that unlock the value of
insight, hindsight and foresight to drive organisations forward. The Group
comprises KX, the leading technology for real-time continuous intelligence;
First Derivative, which provides technology-led services in capital markets;
and MRP, the only enterprise-class, predictive Accounts Based Marketing
solution. FD Technologies operates from 14 locations across Europe, North
America and Asia Pacific, and employs more than 3,000 people worldwide.

For further information, please visit www.fdtechnologies.com
(http://www.fdtechnologies.com) and www.kx.com (http://www.kx.com)

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