Business

Brendan Mooney: Kainos CEO to step down after 22 years in charge

Kainos' outgoing chief executive, Brendan Mooney (left) with his successor, Russell Sloan (right), who will take over the role at the end of September.
Kainos' outgoing chief executive, Brendan Mooney (left) with his successor, Russell Sloan (right), who will take over the role at the end of September. Kainos' outgoing chief executive, Brendan Mooney (left) with his successor, Russell Sloan (right), who will take over the role at the end of September.

THE chief executive of Belfast IT company Kainos is to stand down from the role after 22 years.

Brendan Mooney, who helped make the software firm one of the most successful businesses to ever emerge in Northern Ireland, will step down in September.

Russell Sloan, who heads Kainos’ all important digital services division, has been named as his successor.

Brendan Mooney originally joined Kainos as a trainee software engineer in 1989. He rose through the company to become its CEO in 2001.

In 2015, he oversaw the company’s IPO (initial public offering), at the time valuing the company at around £161 million.

Eight years on, Kainos is valued at around £1.68 billion, employing 3,000 people.

Mr Mooney will remain as CEO until the next Kainos AGM on September 21 2023. Kainos said he will remain engaged with the company until June 2024 “to ensure an orderly transition”.

“My decision to step down as CEO of Kainos was not an easy one, but made easier knowing the talent and motivation of the team leading the business today,” he said.

“I have complete confidence in Russell to lead us successfully into the future and I look forward to supporting him and the wider team over the next 12 months.

“It has been a wonderful experience to be part of the Kainos journey: to have worked alongside so many exceptional friends and colleagues; to have witnessed the positive difference our work has made for our customers and in society; and to have watched Kainos grow from a local start-up to a dynamic global firm.

“I would like to take this opportunity to thank everyone in Kainos for creating the special business that we are today; and for the support they have provided to me personally throughout my career.”

Russell Sloan, who joined Kainos as a trainee software engineer in 1999, 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.

“Kainos is a thriving, growing and global business. I am excited to be taking over the role of CEO in September and look forward to building on the success that has been created over the past decades,” said Mr Sloan.

“We have much to be proud of as a team and look forward to many more achievements in the future.

“I would like to thank Brendan for his leadership and support, and to thank the Board for the confidence placed in me to lead this exceptional business. I am fortunate to be surrounded by a remarkable, talented team who will help me execute against the clear, proven and effective strategy already in place.”