Rapid Technology, the company founded by hi-tech entrepreneur Mr Pat McDonagh has announced a boardroom shake-up. Mr McDonagh, chairman of the D·n Laoghaire-based firm, which develops point-to-point sales technology, said it had been a challenging year and announced that a number of executives had agreed to stand down. Two executives with operational control of Rapid - finance director Mr Roger Bannon and development director Mr Jim Barry - have both left the company. Mr McDonagh said Rapid had underestimated the timescale required for the business and a change of emphasis was needed to pick up the momentum. He said the firm had appointed Mr Brendan O'Sullivan, a former director of Apple Europe, as chief executive, and Mr Cormac Molloy, a certified accountant, as finance director. Mr Mike Newton, formerly of Dell UK, has also joined Rapid's board of directors.