Month: April 2011
Role:
For more than 20 years Paul Brennan has been helping companies through the highs and lows experienced by the IT sector – predominantly in Europe and the US. He has been working with management teams and shareholders to develop and position companies for merger or acquisition, for the next level of funding or taking them to a new operational level.
Currently Paul is developing a portfolio in Europe and the US, working with both established and early stage companies looking to build their business or position it for an exit. Paul sees one of his main roles as being a mentor and confidant for the CEO while also maximizing business opportunity for the Shareholders.
“I invest a lot of time with the CEO, CTO and the CFO understanding the technology’s full potential and market positioning. It is also very important for me to recognize exactly what the shareholders’ expectations are for the company and to work with them to reach their goals for the business. Ensuring that communication between the management team and the board is maintained is key in any business. The management team needs to know that their Chairman has relevant operational skills and experience and can step in if needed. That’s very different to a Chairman who walks in and says ‘do it my way’ – that’s a recipe for disaster. It’s a balance between being a coach, an effective communicator and also understanding how to add value.”
For 25 years Paul has held multiple roles including CEO, Business Founder, Corporate Financier and Chairman. He has been Chairman of six companies to date, 5 of which were VC backed and 1 public. During that time he has worked in most major European cities and in the US, acquiring a reputation for producing outstanding results, working with teams of managers and shareholders to develop their businesses.
Paul’s proven track record of success began with his position as CEO in Norway 10 years ago, where he was involved in the entire business including R&D and where he successfully managed a sale to IBM. He subsequently moved into chairing a public company in Scandinavia with US operations as well as being Chairman of a number of other European based IT businesses. More recently Paul repositioned Zeus Technology in the UK. Today Zeus is regarded as one of the shining lights in the UK IT industry.
Paul has an advantage of understanding technology and recognizing IP value which stems from his technical background of geology/geophysics and his entry to the IT industry as an IBM Engineer. This enables him to position a product in the market place and to anticipate new areas of business which in turn maximizes revenue opportunities.
”Having decided some time ago to step away from the full time CEO role I have focused on enabling a team so that they can scale as a team. It’s a common problem to get really excellent early stage executives to grow as a team. So many first-time Chairmen think they are doing a great job by being the shadow or second CEO rather than focusing on the team that they are fortunate enough to work with. The reality is that there is no space for two CEO’s. I often see this in highly skilled individuals who are looking to make a transition from executive to non executive. Being a non executive Chairman is a very fulfilling role, financially rewarding and an excellent way to move into a new chapter of your career. But remember that it’s not a place holder until a new CEO role comes along.”
When not involved in his portfolio work, Paul relaxes by training for and competing in long distance triathlons – after the demands of his two children under the age of 3 are met, of course.
brennanpaul@me.com |
