Software chief quits as sales stall

Sales of Orbital software have fallen

The chief executive of Scottish software company Orbital has resigned after the company reported a sharp fall in turnover.

Kevin Dorren has stepped down after the Edinburgh-based knowledge management specialist said turnover for the three months to 30 June would be about £140,000, compared with £402,000 for the three months to 31 March.

The company, which floated on the stock market in a blaze of publicity last year, blamed the postponement of key orders for a deterioration in software sales.

Mr Dorren had been involved in the development, fund raising and general management of the company since it obtained its first round of funding in 1997.

He was also responsible for the recruitment of the group's management team and for its corporate vision and strategy.

Review launched

As an interim measure, Brian Gray, currently chief operating officer, will assume the responsibilities of chief executive, the company said.

Ian Ritchie, non-executive chairman said: "The visibility of our sales continues to deteriorate," adding that a number of orders which the company believed would be completed in June were not confirmed.

Mr Ritchie said that interest in its core products remained strong and that its difficulties were the result of the economic climate.

He added that a review would be launched into the company's operations, the results of which are expected to be announced at the company's AGM next month.

Shares in the company, which floated in October at 160p, have tumbled from a peak of 171p to about 18p.