Telent does well despite CEO’s death

Telent has reported a five percent rise in revenue in a financial year that saw its former chief executive Mark Plato’s shock death.

The network services giant posted revenues of £568.2 million and saw operating profit rise 2.5 per ent to £32.2 million for its year ending 31 March 2020.

Chairman David Naylor-Leyland struck a sombre tone as he reported on the loss of long-term boss Plato and economic uncertainty in the UK.

Long-term CEO Plato died suddenly in early September.

Naylor-Leyland said that Plato developed a strong executive team and led the group through some difficult times into a period of great success, earning the respect of colleagues, customers and suppliers along the way.

“To many people, he was more than an inspirational CEO, he was a friend and mentor, and his loss was keenly felt by all who knew him. Mark’s legacy to Telent is his ethos of placing the wellbeing of our customers and employees at the forefront of every decision we make.”

Last month, the services giant named Jo Gretton as Plato’s successor. Gretton has been on Telent’s senior executive team company since its formation in 2006 and was head of its legal and commercial unit until being appointed as COO earlier this year.

She takes the reins as CEO from Frank McKay, who temporarily stepped into the role following Plato’s death. He will resume his role as a non-executive director.