(Reuters) - Software and consulting company First Derivatives Plc's (L:FRST) Chief Executive Brian Conlon died on Sunday, aged 53, following his diagnosis with cancer, the company said.
The company said in May that Conlon, who founded First Derivatives in 1996, had cancer but would remain in his CEO role during treatment.
The Newry-based company has initiated a process to appoint a new CEO and will provide an update on the process in due course, it said.
Non-executive chairman Seamus Keating has been appointed executive chairman in the interim with immediate effect, First Derivatives added.
"Brian built a world-class business in First Derivatives. His drive, ambition and determination inspired all who had the privilege to work with him," Keating said in a statement.
"This news is a profound shock to all of us."
Conlon worked for KPMG, Morgan Stanley (NYSE:MS) International and SunGard before leading First Derivative's development since its inception, according to the company's website.