Sorted: Chief who oversaw tech firm’s sale for just £66.73 steps down
The chief executive of delivery tech platform Sorted who oversaw its sale for just £66.73 earlier this year has stepped down.
Carmen Carey was the only director of the Manchester-based company to remain in post following the reverse takeover in January.
AIM-listed Location Sciences bought the business in a move which also saw it take on the global software firm’s debts of £4m plus interest and invest £3m.
Location Sciences, which has been remained as Sorted Group Holdings following the deal, is based in Cheltenham and counts Boohoo co-founder Mahmud Kamani and Zeus Capital founder Richard Hughes among its shareholders.
Carey has stepped down with immediate effect but will still “support Sorted during a three month notice period”.
While Sorted Group Holdings appoints a new chief executive, chairman Simon Wilkinson will also take on the role of executive chairman.
The group added that as a result he will be paid a daily consultancy rate of £1,750 and that it is anticipated that Wilkinson will work a maximum of three days per week.
In 2021, Sorted closed a £30m Series C investment raise led by Chrysalis Investments and Arete Capital Partners.
That investment came less than nine months after Sorted raised another £11m.
Before being acquired earlier this year, Sorted had raised a total of £72m.
Carey first joined Sorted as a non-executive director in October 2019 and became chief executive in September 2021.
Prior to that, she has served as CEO of Brady, chief operating officer of Unbabel and CEO of Aprica Systems.
Wilkinson is also currently chairman of Alldoq, Hiring Hub, Forza, Cti Digital, IEG4 and RealityMine.