Phillips out in Identica split

Darryl Phillips, the financial backer of Michael Peters’ consultancy Identica, has resigned as Identica’s chief executive officer and disposed of his shares, claims the consultancy.

A statement from Identica says that Phillips “has disposed of his shareholding on a mutually agreed basis”. Neither man will comment on the split. An Identica spokesman cites legal restrictions that prevent them talking to the press.

A new group of investors is now involved in the consultancy, represented on the board by Ross Peters. Ross Peters, no relation to Michael Peters, “has extensive experience in venture capital and computer software”, according to the statement from Identica.

It is not clear whether the new investors have bought Phillips’ stake, which is believed to be 35 per cent and estimated to be worth a five-figure sum.

Identica, set up in 1992, has been subject of industry rumour in recent weeks, centred on a

suggested rift between Michael Peters and Phillips, who injected funds into Identica when he joined in 1993. It is claimed that a severe difference in business styles has made Phillips keen to leave. The consultancy has seen a lot of staff leave over the past year, mainly on the new business side.

The Identica statement says Phillips’ general management responsibilities have been reallocated among the consultancy’s senior executives.

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