According to Brian Conlon, CEO of First Derivatives, deceased

(Reuters) – First Derivatives Plc's software and consulting company <FRSTThe CEO, Brian Conlon, died Sunday at the age of 53 as a result of his cancer diagnosis, the company said.

The company said in May that Conlon, who founded First Derivatives in 1996, had cancer but would stay in his country. CEO role during treatment.

The Newry-based company has launched a process of appointing a new CEO and provide an update on the process in due course, he said.

Non-Executive Chairman Seamus Keating has been appointed Executive Chairman in the meantime with immediate effect, added First Derivatives.

"Brian has built a world clbad company in First Derivatives. His drive, ambition and determination inspired everyone who had the privilege of working with him, "Keating said in a statement.

"This news is a profound shock for all of us."

Conlon worked for KPMG, Morgan Stanley International and SunGard before leading the development of First Derivative since its inception, according to the company's website.

(Report by Bhargav Acharya in Bengaluru, edited by Andrew Cawthorne)