ESW Capital replaces Lucas Skoczkowski as Redknee CEO

Following its control investment in Redknee Solutions Inc. (TSX: RKN), ESW Capital, LLC makes changes to CEO and board of directors of Redknee.

Redknee Founder Lucas Skoczkowski has been removed by the board from his role as CEO. Skoczkowski, a significant shareholder will remain as a director of the board.

Danielle Royston has been appointed interim CEO, effective immediately. Redknee intends to launch a thorough internal and external search to secure a permanent CEO.

Royston currently serves as Portfolio CEO for ESW Capital’s Versata/Trilogy Family of Companies and formerly as Director of Executive and Equity Compensation for Freescale Semiconductor.

Upon completing its US $83 million investment in January, ESW Capital appointed Demetrios Anaipakos, Scott Brighton, Chris Helling and Andrew Price, to Redknee board of directors. They joined three existing board members, Alan Michels, Kent Thexton, and Skoczkowski.

Effective immediately, Michels and Thexton, have stepped down from the board of directors, and Christy Jones and Farhan Thawar have been appointed to the board.

Thexton, General Partner of ScaleUP Ventures Inc., who had been serving as Chair of Redknee and a director since November 2006, continues to hold Redknee stake worth approximately $1.8 million in shares, options and deferred share units.

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Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.