Former chief exec David Richards restarts the party as he heads back to WANdisco, but the software group's chairman leaves in response

Francesca Washtell
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WANdisco chief exec David Richards returned to the company today (Source: Getty)

The party has restarted for the former chief executive of Aim-listed software company WANdisco, David Richards, who was reinstated at the helm of the company he helped form this morning.

In response, chairman Paul Walker and a non-executive director, Ian Duncan, have left the data storage and cloud computing group with immediate effect.

"As independent non-executive directors, we had not considered David the right person to lead the company going forwards," Walker and Duncan said in a joint statement this morning.

Read more: WANdisco hopes to pick up big government contracts

Richards left WANdisco on 29 September saying at the time his leave had come at an "appropriate juncture" for the business.

The day before he exited, the company finally hired a new finance chief three months after its previous one was poached by Just Eat.

Read more: Murder on the dancefloor? WanDisco shares plummet

Richards said in a statement today:

I am delighted to be returning to WANdisco with the express backing of approximately 58 per cent of our institutional shareholder base. I have never lost sight of the tremendous opportunities that exist across our business: we have developed a truly world class product portfolio which continues to underpin our strong new business pipeline.

I look forward to updating the market of our continued strategic progress over the coming months in addition to confirming a number of new board appointments.

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