Board and management changes

RNS Number : 9453G

XLMedia PLC

29 July 2019

 

29 July 2019

XLMedia PLC

("XLMedia" or "the Group" or "the Company")

Board and management changes

XLMedia (AIM: XLM), a leading provider of digital performance marketing services, is pleased to announce the appointment of Stuart Simms as Chief Executive Officer with effect from 2 October 2019. Ory Weihs, will continue in his role as Chief Executive Officer until Stuart's arrival and thereafter will remain on the board as a Non-executive Director of the Company.

Stuart has significant experience in technology companies, and specifically the performance marketing sector, and joins having previously held several board and senior executive positions, including as Chief Executive Officer, of Rakuten Marketing ("Rakuten"), one of the world's largest performance marketing companies with revenues in excess of $1 billion. During his tenure at Rakuten, Stuart oversaw a substantial transformation and re-structuring of the business, resulting in a return to growth. Stuart implemented a clear strategy to utilise inhouse technology and integrate acquisitions, accelerating both revenue and profit growth.

Prior to Rakuten, Stuart was Chief Operating Officer of Fits Me, a consumer data and analytics company acquired by Rakuten in June 2015. Post the sale to Rakuten, Stuart assumed the role of Chief Executive Officer of Rakuten Fits Me, overseeing the integration of Fits Me into the enlarged group.  Earlier in his career, Stuart held a number of senior executive positions with leading technology businesses, including Microsoft, IBM and Rackspace.

From the date of Stuart's appointment, Ory will move to a Non-executive Director role, enabling him to continue to support the Board, whilst also allowing him to pursue other business interests outside of XLMedia.

The Company also confirms that Inbal Lavi, currently Chief Executive Officer of XLMedia's wholly owned subsidiary, Webpals Systems S.C.Ltd ("Webpals Systems"), has resigned from Webpals Systems in order to pursue other business interests. The Board would like to thank Inbal for her contribution and wish her the best for the future.

Chris Bell, Non-executive Chairman of XLMedia, commented:

"We are delighted to welcome Stuart to XLMedia and believe he is ideally placed to help deliver the next phase of our growth.  His extensive knowledge of the performance marketing arena and technology makes him an ideal candidate to lead our business and both myself and the Board look forward to working with him.

"I would also like to take this opportunity to extend our sincere gratitude to Ory for his outstanding contribution to XLMedia, a business he established in 2008. We are also pleased Ory will be remaining with the business as a Non-executive Director allowing the Board to continue to benefit from his expertise."

In accordance with Schedule 2(g) of the AIM Rules, Stuart Antony Bridge Simms (aged 49) holds or has held in the past 5 years the following directorships and partnerships:

Current	Past five years
Bridge Performance Consulting Ltd Loopr Ltd Cbridge Technologies Limited	Fits.Me Holdings Limited White Oak Underwriting Agency Limited International Media Futures Limited

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 ("MAR").

For further information, please contact:

XLMedia plc Chris Bell, Non-Executive Chairman Ory Weihs, Chief Executive Officer www.xlmedia.com	Tel: [phone]
Vigo Communications Jeremy Garcia / Fiona Henson / Simon Woods www.vigocomms.com	Tel: [phone]
Cenkos Securities plc (Nomad and Joint Broker) Giles Balleny / Max Gould www.cenkos.com	Tel: [phone]
Berenberg (Joint Broker) Chris Bowman / Mark Whitmore / Simon Cardron www.berenberg.com	Tel: [phone]

 

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