Neil Wilson, the founder and largest shareholder of Irish travel software firm Datalex, has announced his retirement as the head of sales at the company.
It is understood that Wilson, who founded the travel software group 18 years ago and was instrumental in its growth from a two-person operation to a company employing 250 worldwide, will continue in a non-executive role with Datalex.
The company has said that it is continuing to weather the challenges of an uncertain economy, a fragile geo-political climate and the ravages of a travel industry affected by the ongoing SARS epidemic.
“Like many others in our industry, these trying times have taken their toll on the pace of our recovery”, said Datalex CEO Neil Beck. “However, we are making progress and remain committed to increased productivity and vigilance in the control of costs.”
Datalex reported a pre-tax loss of US$20.6m for the year ended 2002, compared with a loss of US$92.8m in 2001. The group forecast a positive cash flow during the second half of 2003, following two years of extensive cost cutting. The company said it expects to attain cash break-even by the end of the year.
By John Kennedy