Renaissance boss turns up at Kordia

Shaun Rendell

Yesterday, struggling Renaissance announced the resignation of its acting CEO, Shaun Rendell.

Today, state-owned Kordia said Mr Rendell has joined as its chief financial officier.

Prior to his year-long stint as Renaissance CEO, Mr Rendell was Renaissance's CFO.

The period saw Renaissance creep back into the black, and the sale of its once-core IT distribution business, which brought in around $90 million revenue the previous year,  for $5 million in cash and stock.

Shaun Rendell comes to Kordia from Renaissance Corporation, where he was acting CEO for the past year and CFO for the last two years.  There, he led a team and was instrumental in the transformation of loss-making subsidiaries into a profitable businesses.

Mr Rendell immigrated to New Zealand from the UK, where, he started his career in the communications industry with British Telecom and O2 in the late 1990s.

He starts at Kordia September 3, and will replace outgoing executive Roger Jarrold who left the role mid-July to join Downer NZ as its new CFO.

Mr Rendell joins the SOE in the midst of a strategic review. Kordia CEO Geoff Hunt has said it involves a potential outside investor or partner in Australia. He would not comment if it involved the sale of Kordia's retail ISP subsidiary, Orcon, other than to say the review was an annual process that covered all elements of the company.

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Congratulations, Shaun.

Your hard work at Renaissance in the year from hell for the company is valued and appreciated.

Wishing you the best in Kordia.

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Absolutely agree. He has done a great job and shown real guts and determination.

Colin Giffney also deserves a lot of praise for his work at Renaissance.

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Absolutely. Whole Renaissance team did brilliantly (apart from the losses and the debt and the Yoobee branding and the company being dismembered)

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Yoobee College; Yoobee stores. We all know were this is heading: Yoobiance. And maybe Kordia could be Koobee

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Youbilation?

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How much did he spend on that fat cat, fat head US consultant who came up with the Yoobee rebranding idea?

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Get your facts right - that was done by the previous CEO.

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Correct - the proposal of a (presumed) drunken loon that was approved by the board of Renaissance.

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R Webb was a bizarre appointment - from what I remember he had no sector experience and had never set foot in NZ before getting the job.

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Why has the sale of INSITE (Renaissance Ltd's successful custom build Server and PC's division) not been approved by shareholders? How is it that this company on the NZX has failed to announce it's sale of the INSITE Technologies department? Were shareholders notified

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