27 August 2008 | Jake Kanter
Federico Vitaletti, the founder and chief executive of e-procurement company BravoSolution, has stepped down after seven years in the role.
Vitaletti will stay on as chairman and will be replaced in the CEO role by Nader Sabbaghian. Previously the company's chief operating officer, Sabbaghian was appointed after a unanimous decision by the board.
Sabbaghian was responsible for opening BravoSolution's London office in 2005 and his promotion follows the firm's strong financial results for the first half of 2008.
Yesterday the company announced its revenue had increased 43 per cent, compared with the same period last year, to reach £18 million. Total revenue at the company in 2007 was £27 million.
BravoSolution's customers include the BBC, Transport for London and L'Oreal.