Cancom CEO resigns over disagreements on company's future

Josh Budd
clock • 1 min read

COO Rudolf Hotter to take Thomas Volk's place as chief executive

The CEO of Cancom has unexpectedly handed in his resignation due to disagreements over the German reseller's future.

Thomas Volk will prematurely depart the company on 31 January due to what Cancom describes as "differing opinions on the future strategic development of the company".

The company's supervisory board will replace the outgoing CEO with COO and member of the executive board Rudolf Hotter as of 1 February. Volk's duties will however be split between Hotter and the firm's CFO Thomas Stark.

"The supervisory board thanks Mr. Volk for his work and his services to the company and wishes him personally all the best," Cancom said in a statement.

Cancom's share price fell by 9.5 per cent overnight to €47.70 as news of Volk's resignation emerged.

Volk took the reins of the company some 15 months ago (in October 2018) after CEO of 26 years, Klaus Weinmann, stepped down.

Rumours emerged in September that Cancom was weighing options for a sale - with reseller giants CDW, NTT and Bechtle in the frame as buyers. Cancom did not comment on the rumours at the time.

The outgoing CEO's tenure at Cancom saw the reseller and MSP leap into the Irish market through its acquisition of Northern Ireland-based MSP Novosco last October for €80m.

Volk has also built out Cancom's own channel of partners for its software solution called AHP.

The Munich-based firm has continued to post stellar financials under Volk's leadership, with its results for the first nine months of 2019 revealing a 22 per cent revenue jump to €1.18bn, while profits leapt by 19.9 per cent to 98.3m. The firm's share price rocketed by 90 per cent over the course of 2019.

More on Solution Provider

SoftwareONE soars double-digits in EMEA in solid Q3 results

SoftwareONE soars double-digits in EMEA in solid Q3 results

The software solutions giant posted healthy growth across all its business lines

Kelsey Rees
clock 24 November 2022 • 2 min read
Bechtle makes third acquisition of 2022 with MSP ACS Systems buy

Bechtle makes third acquisition of 2022 with MSP ACS Systems buy

The UK-based MSP focuses on cybersecurity, modern work concepts as well as managed IT and cloud services

Kelsey Rees
clock 24 November 2022 • 2 min read
Atos lands 'major contract' with Siemens IT to drive its digital transformation roadmap

Atos lands 'major contract' with Siemens IT to drive its digital transformation roadmap

The French group claims this is the largest manufacturing integration win for its Atos Bridge SIO/SIAM operating model

Kelsey Rees
clock 22 November 2022 • 1 min read

Spotlight on

IBM raises eurozone software prices by 24 per cent

IBM raises eurozone software prices by 24 per cent

Timing of move questioned by software licensing experts

Doug Woodburn
clock 25 November 2022 • 3 min read
Okta sets Westcon-Comstor southern European mission

Okta sets Westcon-Comstor southern European mission

Westcon will deliver Okta’s identity-first zero trust security solution to France, Spain, Portugal, Italy and Greece

Kelsey Rees
clock 25 November 2022 • 1 min read
Gavriella Schuster: Tackling the gender gap in AI

Gavriella Schuster: Tackling the gender gap in AI

In this opinion piece, the former Microsoft global channel chief, and chairwoman of the advisory board at Artificial Solutions, explains what more can be done on this issue

Gavriella Schuster
clock 25 November 2022 • 4 min read
HP to axe 6,000 jobs after tough Q4 earnings

HP to axe 6,000 jobs after tough Q4 earnings

The vendor said it would axe up to 6,000 of its workforce by 2025 after a difficult Q4

Shane Snider
clock 24 November 2022 • 1 min read