Indigovision names tech veteran as chair

Video security firm IndigoVision has named former Wolfson Microelectronics finance chief George Elliott as its new chairman.

Elliott, who chairs fellow Edinburghbased company Craneware, which specialises in developing billing software for the US healthcare sector, will join the Indigovision board on Thursday and take the helm on 1 July, succeeding current chairman Hamish Grossart.

Grossart, who is retiring after two decades as chairman, said: “His extensive experience and track record of delivery for shareholders within the technology sector mark him out as having ideal credentials to guide the executive management team in growing the business further, and in unlocking the value potential built within IndigoVision over the last 20 years.”

Elliott is also chairman of Fifebased Cooper Software and a nonexecutive director at venture capital firm Par Equity.

Aimquoted Indigovision last week announced plans to return about £850,000 to investors through a share buyback programme.

The firm said the move was aimed at benefiting its earnings per share and helping to close a “persistent gap” between its market capitalisation and the board’s assessment of its intrinsic value.

The group recently said that its outlook was “more positive than it has been for some time” following an improvement in sales and orders.

Indigo, led by chief executive Marcus Kneen, added that its board’s policy was to maintain a “strong balance sheet”. 0 George Elliott succeeds Hamish Grossart as chair