After overseeing the growth of Dundee tech business Waracle from 10 to 200 staff, chief executive Chris Martin is stepping down.
Waracle announced the appointment of David Tuck as its new CEO, who will join in early September.
Mr Martin has led the company since 2014. Waracle specialises in developing apps and other digital products and also has offices in Edinburgh, Glasgow and London.
He will stay on in a part-time role to explore acquisition opportunities and will remain a shareholder.
New CEO to ‘level-up’ Dundee firm
Mr Martin played a role in attracting the new CEO to the company and said he was in favour of the change.
He said: “When we got the business up to around £26m (at the end of 2021), I felt we ran into issues of scale. I was aware that we needed people to help us level-up form there.
“It’s been a harder climate for tech in the last couple of years.
“However, partly through acquisitions, Waracle is getting back towards being that size where scale becomes an issue.
“When I met David, it was clear right from the start that he was better at running this type of business than I was.
“I’m delighted he’s taking over as CEO because it’s the right thing to do for the next stage of growth.”
Plan to double size of Dundee firm Waracle
The appointment comes at an exciting time for Waracle which recently announced the acquisition of Glasgow-based Screenmedia and a multi-million-pound deal with Scottish Power Energy Networks.
Mr Tuck has worked in technology services for 25 years, mostly in London. He held senior positions at Thoughtworks, Scott Logic, The App Business and Kin + Carta.
And he has remained linked to Dundee throughout that time.
He was born in the city but moved at the age of seven. But he makes frequent visits back as a Dundee United supporter.
And his ambition is to double the size of Waracle in the next two to three years.
“Waracle is a company I’ve followed for a long time. There is a buoyant tech sector in Scotland and we know that demand for high-quality tech services will continue to grow.
“We plan to diversify some of the services, do more in product development and invest in new capabilities, particularly data and AI, and use that to bring greater value to clients.
“Waracle has an incredible list of clients who we’ve worked with for many years like Scottish Power, Roche, Royal London, Lloyds. There’s more that we can do in those industries.
“We’ll also look at geographic expansion.
“I’m delighted that Chris is staying on to look at acquisition opportunities. We’d love to do one or two acquisitions a year.
“Waracle has solid foundations, strong clients and great people and culture. I am excited about the next chapter.”
Conversation