Penman resurfaces at Volante

Penman was managing director of Compaq South Pacific for 15 years and spent 18 years as head of IBM Australia's PC business prior to his Compaq stint.

Penman's appointment follows Allan Brackin's decision to step down as chief executive officer of the Australian-owned IT company after 18 years of leading Volante and AAG, which Volante acquired in 2000. Penman will be joining Volante on November 1. Brackin will retire from the board by the end of October and leave the company after a brief transition.

Robin Crawford, chairman of Volante Group, said he is delighted that Penman has agreed to "lead Volante during the next stage of the company's growth".

In August, Volante announced a AU$7.6 million profit after tax and goodwill amortisation for the year June 30, 2004, compared with AU$4.1 million for the previous year. This follows the acquisition of Ipex in February, which increased Volante's annual revenue by 55 percent.