After six months of talks, Reckord walks

tTech CEO Christopher Reckord is exploring his options with an eye on either a Caribbean or global move. This, as he announced that after nearly a decade of association with tTech, and over four years as its leader, he will be moving on.

Reckord says that while the announcement may have taken the market by surprise, it came after six months of discussions and internal engagement.

“There was six months of discussions with my chairman and members of my team. There was nothing sudden about it. After nearly 10 years of visioning and building, I felt it was time to make a difference somewhere else,” he said.

On a personal level, Reckord says the COVID-19 pandemic, with its multitude of effects, was an opportunity for deep introspection about his personal accomplishments and life goals.

“I looked at where the company is and looked at our results over the last year or two years … the growth and so on, and I asked myself: ‘Am I operating at my super-power, my best potential?’ The answer I found was no, and so I started the talks,” he said.

Reckord was tapped internally to become CEO in March 2018. He officially demits office on November 30.

Norman Chen, who currently serves as tTech’s director for IT security, will assume the role of Acting CEO on December 1. Chen joined tTech in 2013 and has served in several leadership roles, the company said.

tTech has traded on the junior market of the Jamaica Stock Exchange since 2016. Since then, annual profit has declined from $39.34 million to $8.22 million at the end of 2021.

So far this year, the company has suffered a first-quarter loss of $4.19 million and an even bigger loss of $6.44 million in the second quarter. Its next quarterly report is due by mid-November.

Reckord said he told tTech during the discussions that he had fulfilled his purpose as a brand builder, chief cheerleader, and putting tTech on the map, but it was now time for someone else to take the tech firm to the next level.

There are plans in place to pull the company out of its relatively anaemic state, he added, while expressing confidence in Chen to drive the business.

“Norman (Chen) is the integrator and I am the visionary. When we put together all the plans to fix our situation, the majority of the work is really him and the rest of the team,” the outgoing CEO said.

Reckord says he will take at least the rest of the year to switch gears as he prepares for his next move, which would have either regional or global impact.

neville.graham@gleanerjm.com