Renaissance boss turns up at Kordia
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.