StockMarketWire.com - K3 Business Technology Group has appointed Lars-Olof Norell as interim chairman following the retirement of Tom Milne at today's annual general meeting.

Norell is assuming the position of chairman for an interim period after which it is intended that he remains on the board of K3 as a non-executive director. A further announcement will be made about the appointment of a permanent chairman in due course. Norell has extensive experience of the technology sector, having spent close to 30 years working at Capgemini, the consulting, technology and outsourcing services company. He continues to advise companies on their growth strategies and technology solutions.

Chief executive David Bolton said: "I would like to welcome Lars-Olof to the Board as interim Chairman. Lars-Olof's substantial experience of the technology sector strengthens the team as we continue to develop K3. We expect to make a further announcement about the appointment of a permanent Chairman in due course. After this appointment is made, Lars-Olof will remain on the Board of K3 as a Non-executive Director."

Bolton will tell the AGM today that trading in the new financial year to date has been in line with management expectations.

He will say: "Demand for our new flagship Microsoft Dynamics 'ax|is' solution is encouraging and our recent accreditation of membership of Microsoft's Global Independent Software Vendor programme underlines the product's global potential. As we reported previously we are making further investment in developing channels to market and in Microsoft Dynamics AX resource.

"Our other businesses are performing well although the recovery of the Dutch fashion and retail market remains slow."


At 9:51am: [LON:KBT] K3 Business Technology Group PLC share price was -1p at 220p



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