Alterian Co-founders Resign by 'Mutual Consent'

In the UK, Mike Talbot and Tim McCarthy, the co-founders of analytics and social media monitoring specialist Alterian, have resigned their posts 'by mutual consent'. Two other non-executive directors have also resigned from the Board.

Alterian was founded in 1997 by Talbot and McCarthy, along with David Eldridge who stepped down from his position as CEO in April, after the firm slumped from pre-tax profits of £6.6m to losses of £4.4m in the year to March.

Eldridge was replaced in September by Heath Davies, the former CEO of IT products and services firm Sword Group Heath.

The firm said in a statement that a detailed plan has been put in place to ensure the smooth transition of both Talbot and McCarthy's roles within the business to existing employees. Talbot latterly served as Chief Marketing Officer, while McCarthy was Alterian's Research Director.

Non-executive directors Hugh McCartney and Iain Johnston have also resigned. Johnston recently stepped in as Deputy Chairman, following Eldridge's resignation.

Web site: www.alterian.com .