The technology R&D partner and employee-owned company, Consult Red, has recruited Paul Stevenson as its new CFO. Stevenson will sit on Consult Red’s Board and join its Executive Leadership Team as the company drives further growth propelled by increasing demand for ‘Internet of Things (IoT) smart, connected products and streaming TV devices.
Consult Red works with the world’s leading media operators, including Liberty Global (Virgin, UPC), Comcast (Sky) and AT&T (Directv), and in the last 12 months, it has grown its team in the UK, Poland and the US by 40 per cent. Connected devices and systems developed by Consult Red are currently in more than 30 million homes around the world.
Driving further growth
Consult Red has Europe’s largest RDK R&D team and a track record of successful product launches in multiple countries. Now it looks to leverage its cutting-edge, connected track record to help clients in media, telecoms, and smart-home drive competitive advantage in IoT and take smart products to market.
Experienced track record
Stevenson joins Consult Red from AIM-listed specialist flooring company AIREA plc, where he was Group Finance Director and Company Secretary. Before that, Paul was CFO of Caldero, a Pay-TV technology provider, and Arris Group (formerly Pace plc) and Heywood Williams, where he held several senior finance positions. He qualified as a chartered accountant at KPMG.
Stevenson, CFO, said: “I am delighted to be joining the Consult Red Executive team at this exciting time in the company’s journey. The recent transition to an employee-owned company is a fantastic achievement and one of the main reasons I agreed to join the team. This shows how much the company values its people; they are at the heart of what it does and how it works with clients. This next stage in Consult Red’s development gives me an opportunity to play a significant part in helping develop propositions in IoT or ‘smart’ markets and grow the business. Consult Red’s track record and experience can help clients deliver digital transformation, manage risk and get to market faster.”
Andrew Stewart, Consult Red CEO, added: “We’re excited to welcome Paul to the team. Paul’s governance experience with an AIM-listed company means he is well placed to help us deliver on our strategy and develop the business. We want to become the go-to technology development partner for companies seeking to deliver innovative, secure and trustworthy connected devices and systems to market.”
In May 2021 Consult Red became an employee-owned organisation, putting it in pole position to attract and retain the industry’s best talent and disrupt the market. The Directors of Consult Red are transferred shares of the £18 million turnover business to an Employee-owned Trust (EOT) to benefit employees.
The move was welcomed by the industry’s technology and R&D leaders as a model that will attract and retain the best talent – the talent needed to provide the agility, skills, and momentum that modern competitive businesses need to succeed.