The chief executive of a Manchester software firm has stepped down shortly after completing a near £15m deal to sell its managed services unit to a private equity-backed company.
Adalsteinn Valdimarsson has left his role with K3 Business Technology Group following the disposal of Starcom Technologies to Node4.
Chairman Tom Crawford has assumed the role of interim chief executive officer until the recruitment of a successor is completed.
Mr Valdimarsson joined the company in 2016, initially as a non-executive director, and was subsequently appointed as chief executive.
He is currently chairman of Rue de Net and has also previously held roles with LS Retail.
Mr Valdimarsson said: "K3 has significant growth potential and with the business on a firm financial footing, I am confident that it will thrive under new leadership.
"I would like to thank all my colleagues for their commitment to the group, and wish them every success for the future as they take the business forward."
Chairman Tom Crawford added: "Adalsteinn has made a significant contribution to K3 over the last five years, and shown tremendous dedication.
"He is respected by the board and staff alike, and we would all like to thank him for his hard work and commitment.
"K3 is entering a new phase of development and we expect to be in a position to announce the results of our recruitment process in March with results."
