'Elite' videogames company names new CFO

BRITISH VIDEO GAMES developer Frontier Developments has named its next chief financial officer to replace current CFO Neil Armstrong who has been promoted.

Cambridge-based Frontier Developments has appointed Alex Bevis as its next finance chief. He will take up his new role on 1 April next year when incumbent CFO Armstrong moves on to an operational role within the group.

Bevis, aged 41, joins the AIM-listed gaming group from Xaar, an industrial inkjet technology company, where he has been CFO since 2011. Prior to this Bevis was VP finance at semiconductor company CSR plc.

Frontier CEO David Braben, co-founder of groundbreaking 1980s game Elite, said Bevis’s appointment “reflects another step in the development and investment in Frontier as we look to take the business through its next stage of growth”.

Bevis has extensive experience in high growth technology companies  which will play an important role as the business continues to grow. Frontier, maker of games Elite Dangerous and Planet Coaster, plans to launch new franchises.

Armstrong helped steered the company through its listing on AIM and its transition to a self-publishing business-to-consumer organisation.

In its latest full year accounts Frontier reported a 13% rise in group revenues to £21m and a pre-tax profit of £1.3m.