THE outgoing boss of Kainos has said the Belfast IT giant has been hugely successfully in achieving its original goal of creating jobs and keeping IT graduates from having to emigrate for work.
Brendan Mooney was speaking after announcing he will step down as CEO of the software company in September after 22 years at the top.
In that time, he led the firm through its 2015 IPO (initial public offering), which has helped the company grow from a £161 million Belfast tech success story into a £1.68 billion global operation, employing 3,000 people.
It’s a far cry from the company Brendan Mooney joined as a trainee software engineer in 1989.
Less than 30 people were on the books at that time.
A 1986 collaboration between Queen’s University and Fujitsu, Kainos fulfilled two purposes: providing services for Fujitsu’s customers and creating jobs for local IT graduates.
“I was in a graduating class of 28 back in 1989 and I think five of us stayed in Northern Ireland and 23 had to leave to get a job.
“Now we have a sector that is 33,000 people. If you want to travel you can, but if you want to stay at home and get a job, there are lots of great options.
“To me the scene locally is very vibrant. I think it’s brilliant we are able to offer talented young people who are graduating, local employment.
“It’s a huge success for those early companies and their determination to provide that employment here in Northern Ireland.”
Russell Sloan, who heads Kainos’ all important digital services division, will become just the third person to lead the company since 1986.
Like Brendan Mooney, he joined the firm as a trainee software engineer, albeit ten years later in 1999.
He has headed the digital services division since 2013.
During that time, the division grew from 35 people to a staff of 1,600, accounting for 60 per cent of the company’s total revenue.
Mr Mooney said the preparations for his successor have been in the works for around four years.
“Transitions often happen in times of crisis, that could be ill health, or it could be the CEO gets fired. I think it just makes it very difficult for the team taking over the business.
“To me it’s all about being planned, being thoughtful, being intentional.
“Russell will have time to settle in and the business is performing well and he has a strong team. To me it all feels very natural.
“For us, doing this well is important. I think he’ll do an absolutely fabulous job.”
The outgoing CEO said he will remain engaged with the business until June 2024.
Even then, as the company’s largest single shareholder via his 11 per cent stake, Mr Mooney will remain hugely invested in the company.
“There’s no severing of ties,” he said. “I’ll be keen to help in any way I can.
“I’m not rushing out to do anything. The key thing for me is the transition and helping Russell. After that we’ll see what pops up.”
As for the future, for Brendan Mooney said Kainos’ shared ambition is to become a major global player.
“I think there’s a hugely exciting future ahead for Kainos,” he said.
“To me, our ambition is to be a global company and arguably you see some of the foundations of that today with 35 per cent of our business comes from Europe or the US.
“That’s the shared ambition, that we can a fabulous global business that is headquartered in Belfast.
“That has been the trajectory now for 10-15 years and it will be the trajectory in the years ahead.”
