LONDON (Alliance News) - Motive Television PLC Thursday said Executive Chairman Michael Pilsworth has relinquished his executive duties in the company but will remain with Motive as non-executive Chairman.
The company said the move will allow Pilsworth to to focus more of his time on other business interests.
"I am very confident that the Company is now in a position to move forward under our Chief Executive Officer, Leonard M Fertig, in order to accomplish its goals," Pilsworth said in a statement. "The development of the Content Express Platform and Tablet TV sets the stage for a rapid period of growth ahead and I am very excited to be able to remain involved, both as a non-executive Director and as a shareholder."
On Monday, the Sunday Times said that Pilsworth will soon take up a Chief Executive role at a new production company being set up by media entrepreneurs Chris Wright, Luke Johnson and Roger Parry.
Shares in Motive Television were trading down 1.4% at 0.0207 pence Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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