David Walsh of Carlow based security firm Netwatch to step down as CEO

He made the announcement at an emotional meeting with staff at the company's Carlow headquarters

Darren Hassett

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Darren Hassett

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David Walsh, chief executive of Netwatch Group

David Walsh, chief executive of Netwatch Group, has announced that he is to step down as Chief Executive Officer of the company at the end of the year. 

David, who co-founded Netwatch 17 years ago alongside his friend Niall Kelly, will move to the Board of Directors as a founder and major shareholder and will focus his time on the future strategy and expansion of the international group.

He made the announcement at an emotional meeting with staff at the company’s Carlow headquarters who responded with a lengthy standing ovation in recognition of his acheivements.

David said: "The past 17 years have been a period of constant expansion for the company, growing from three employees and a single customer in January 2003 to 550 staff servicing 250,000 customers today.

"The US market offers the biggest opportunities for Netwatch in the next phase of our evolution, and it has become very clear to me that for this business to take advantage of these opportunities we need a US based CEO.

"I hope to have new CEO in place over the next few months to facilitate a smooth transition.

"Carlow is at the heart of our business, and that is not going to change. We have invested heavily in Carlow, building a state of the art Communications Hub and our R+D remains located here. 

"I am extremely proud of all we have achieved since our establishment, revolutionising the security market in Ireland by introducing proactive visual monitoring and innovations such as managed services.

"We are now achieving similar impact in the United States and our operations continue to grow there. It is incredibly exciting to have our Irish technology business transform the US market in this way.

"My focus from the Board will be to drive this transformation and expansion, and support our global management team."

Dr Martin Scott, UK & Ireland Partner, Riverside Company said: "David Walsh is an inspirational leader and a visionary who saw opportunities where few others saw them and built an amazing busines on this. 

"Introducing proactive video monitoring was a game changer in the security industry and set a new bar for excellence. 

"Under his stewardship Netwatch invested heavily in R&D and developed a suite of software solutions that enables the company to win large complex projects on the global stage. 

"Riverside is a global private equity firm, and we partner with and back the very best entrepreneurs with international vision.

"When I met David and he shared his vision, I knew that we had met a true leader we could back. As an Irishman myself I am proud to have backed Netwatch as we go global, leading the next wave of technology in this domain.

"I am personally delighted to call David a friend and look forward to serving alongside him on the Board where the group will continue to benefit from his vast experience and knowledge."