The Chief Executive Officer (CEO) of First Derivatives plc, Brian Conlon, has sadly passed away at age 53 after losing his battle with cancer, the firm announced on Sunday.
The company first revealed the CEO’s health condition earlier this year in May, stating that he would continue to lead the firm during his treatment. Today, the company revealed that he passed away on July 28.
We regret to announce that further to his diagnosis of cancer announced on 17 May 2019, Founder and Chief Executive Officer Brian Conlon passed away on 28 July. We offer our sincerest condolences to Brian's family during this difficult time. https://t.co/8K32glgks1
— FirstDerivatives plc (@FDplc) 28 July 2019
Conlon, who was one of Northern Ireland’s most successful businessmen, was the founder of First Derivatives and had been the CEO of the technology firm for more than two decades, first taking the position back in 1996 when he started the firm.
After setting up the company more than two decades ago, Conlon managed to grow the business into a company which employed more than 2,000 staff and is valued at £1 billion (around $1.24 billion).
First Derivatives has commenced the process of appointing a new leader of the firm. In the meantime, Non-Executive Chairman Seamus Keating has been appointed Executive Chairman with immediate effect.
The UK-based company will provide an update on its search for a new CEO in “due course,” the statement said.
"Brian built a world-class business in First Derivatives. His drive, ambition and determination inspired all who had the privilege to work with him,” Seamus Keating said.
“This news is a profound shock to all of us. We offer Brian's family our sincerest condolences and ask for privacy on their behalf at this sad and most difficult of times."
Brian Conlon leaves a strong legacy behind
Conlon, who set up the company from his mother’s spare bedroom, was named EY Entrepreneur of the Year in 2010. This was one of the many awards bestowed on the businessman.
Before his passing, Conlon had led the consulting firm and software provider to trading companies to a period of solid growth. For the full year ending February 28, 2019, the firm notched an uptick in key financial areas and metrics, namely double-digit rises in profits and revenue.
As Finance Magnates reported, during the period, First Derivatives reported revenue of £217.4 million. This constitutes an increase of 16.8 percent year-over-year when compared to £186 million in the year prior.
