Tech firm WANdisco has appointed experienced non-executive Ken Lever as chair of its board following the uncovering of potentially fraudulent activity it says has cast doubt over its future.
The Sheffield-based business has recruited the former member of the Accounting Standards Committee of the Financial Reporting Council and veteran financial director as chair of its Investigation Committee, which is helping consultancy FRP Advisory investigate "significant, sophisticated and potentially fraudulent irregularities" to do with received purchase orders and related revenue and bookings that were uncovered recently.
WANdisco said Mr Lever would provide leadership and direction to the board and oversee the strategic direction and corporate governance of the company. He joins as the firm's shares are suspended amid suggestion the activity discovered could drastically alter its 2022 results, shaving as much as £12.6m off its stated revenue.
