Crossrider plc Board Changes including appointment of CEO (6432Z)
May 31 2016 - 1:01AM
UK Regulatory
TIDMCROS
RNS Number : 6432Z
Crossrider plc
31 May 2016
Crossrider plc
("Crossrider" or the "Group")
Board Changes including appointment of CEO
Crossrider (AIM:CROS), the creator of digital advertising
platforms specialising in monetising web and mobile media through
the use of big data, announces the following changes to its
Board.
Ido Erlichman, has been appointed Group Chief Executive Officer
with immediate effect. Ido has more than nine years' experience in
the technology sector garnered through roles in private equity,
consulting and finance. Prior to joining Crossrider, Ido was acting
Joint Chief Executive Officer of VisualDNA*, a leading
psychographic data business, where he led its geographic expansion
and oversaw significant EBITDA growth.Previously, he also worked as
a Senior Associate within KPMG's Private Equity deal advisory
practice in London; as a Senior Manager within KPMG's Transaction
Services practice focusing on technology deals in Israel; and with
the Israeli Ministry of Finance. Ido is Certified Public
Accountant, graduated magna cum laude in Accounting and Economics
from The Hebrew University of Jerusalem, obtained his Masters
degree in Law from Bar-Ilan University, and received an MBA from
the University of Cambridge's Judge Business School. VisualDNA is
ultimately owned by a trust, the sole beneficiary of which is Teddy
Sagi.
Following the appointment of a chief executive, Don Elgie's role
has reverted to that of Non-Executive Chairman.
In addition to the changes above, the Group announces that Mark
Carlisle, Chief Financial Officer, has given notice of his
intention to resign from his position in order to join another
listed company as Chief Financial Officer.
Mark will remain with the Group to ensure an orderly handover of
his responsibilities and has, therefore, agreed that he will leave
his post on 19 August 2016. A search for a new CFO is already
underway and a further update will be provided in due course.
Commenting on the Board changes, Crossrider's Chairman, Don
Elgie, said:
"I am delighted to welcome Ido to the Board. Ido brings the
required technology credentials and M&A experience from his
previous roles, in particular, VisualDNA and KPMG. The Board
conducted a thorough strategic search process, including both
external and internal candidates and believes Ido has the necessary
qualities to take Crossrider to the next phase of its development.
I have every confidence in Ido's ability to lead the Group, direct
our M&A strategy and lead engagement with our financial
stakeholders.
"On behalf of the Board, I would like to thank Mark for his
contribution since he joined in 2014. He leaves with our best
wishes as he embarks on the next stage of his career."
*VisualDNA is the trading name of Imagini Europe Limited.
- Ends -
For further information contact:
Crossrider plc +44 (0) 20 3772 2496
Don Elgie, Executive Chairman via Bell Pottinger
Mark Carlisle, Chief Financial
Officer
Bell Pottinger
David Rydell
James Newman
Sam Cartwright +44 (0) 20 3772 2496
Shore Capital
Bidhi Bhoma
Toby Gibbs +44 (0) 20 7408 4090
Disclosures pursuant to Schedule 2(g) of the AIM Rules
Mr. Erlichman's full name is Ido Erlichman, he is 35 years
old.
Mr. Erlichman is currently a director of:
RedZone Empire Limited
In the past five years he has been a director of:
Imagini Europe Limited, trading as VisualDNA
Duvdevan Association
Mr. Erlichman does not hold any other directorships or
partnerships.
There are no other disclosures required relating to Mr.
Erlichman's appointment in accordance with Schedule 2(g) of the AIM
Rules.
About Crossrider
Crossrider is a creator of digital advertising platforms
specialising in monetising web and mobile media through the use of
big data. The Company's web and mobile platforms power ad networks,
agencies and direct publishers and enable the delivery of relevant
digital advertising through the analysis of big data: making online
marketing significantly more efficient and cost effective.
The Group operates web and mobile platforms which generate big
data, enabling the development of a proprietary ad serving
algorithm and engine that can extract value from this data to
deliver relevant advertising to targeted users.
Crossrider's vision is to become the de facto standard platform
for delivering relevant web and mobile adverts to billions of
people, powering the next generation of digital advertising.
www.crossrider.com
This information is provided by RNS
The company news service from the London Stock Exchange
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