Featured, News - Monday, July 5, 2010 9:51 - 0 Comments

UXC execs on leave while company for sale

Troubled diversified technology services group UXC has defended the fact that its two most senior executives are on annual leave while it is negotiating with other groups over its potential acquisition.

In a statement issued late Friday, UXC revealed it had entered a period of due diligence where another party was examining its books. The due diligence period expires in July. UXC is an umbrella organisation which owns a number of Australian IT services and consulting brands — with subsidiaries like Gibson-Quai AAS, Red Rock, Telsyte, Oxygen and Integ.

UXC chief financial and risk officer Rowan Cole confirmed this morning that UXC executive chairman Geoff Lord and finance director/company secretary Mark Hubbard were overseas on annual leave.
“Nothing is going to happen in the time that they’re away. I think it shows trust in the rest of the company,” he said.

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