Topaz chief bounces back

ONE MORE THING : THE APPOINTMENT on Monday of John Williamson to the top job at fuel group Topaz completes a remarkable comeback…

ONE MORE THING: THE APPOINTMENT on Monday of John Williamson to the top job at fuel group Topaz completes a remarkable comeback for the accountant.

It is almost four years to the day since he was sacked as chief financial officer at Payzone, the electronic payments group.

Williamson was shown the door, along with Payzone’s chief executive and founder John Nagle, at a time when the company was struggling under a mountain of debt and a battle for control of the business was underway.

How their fortunes have differed in the meantime.

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While Williamson gained a senior position at Topaz before landing the top job this week, Nagle, ever the entrepreneur, dusted himself down and founded a new e-payments group called Zapa Technology.

Sadly, Zapa ran into financial difficulties last year and Nagle lost control of the business.

Recent reports suggest he is now being chased by lenders for the repayment of loans.

His management style might not be everyone’s cup of tea but most of those who have worked with Nagle over the years would attest to his entrepreneurial drive.

Williamson bounced back and, hopefully, Nagle will too.

Ciarán Hancock

Ciarán Hancock

Ciarán Hancock is Business Editor of The Irish Times