28 Sep 2012 07:00
28 September 2012
Toumaz Limited
John Behrendt appointed interim Chief Financial Officer
Toumaz Limited (AIM: TMZ, 'Toumaz', or 'the Group'), a pioneer in low cost, ultra-low power wireless communications technology, has appointed John Behrendt as interim Chief Financial Officer with immediate effect. He will not be joining the board. Patrick Stephansen has stepped down as CFO and has left the board. The Group's search for a new CFO is underway.
John has over 20 years' experience within the technology sector and was previously interim CEO and COO/CFO of Frontier Silicon Ltd where he worked closely with Toumaz's CEO, Anthony Sethill, for more than six years. Prior to that John was CFO of Alphamosaic, a fabless chip company sold to Broadcom for $123m in 2004. He has also held senior financial roles with McDonnell Douglas and various VC-backed technology companies.
Anthony Sethill, CEO of Toumaz, commented:
"We are pleased that John will remain with the Group whilst we search for a new CFO. His knowledge of Frontier Silicon and the sector as a whole will be invaluable as we continue our integration of the two businesses and exploit the opportunities we are now seeing.
"On behalf of the board, I would like to thank Patrick for all his work and his contribution to Toumaz over the years."
Enquiries:
Toumaz | +44 (0)1235 438950 |
Anthony Sethill, Chief Executive Officer | |
finnCap | +44 (0)20 7600 1658 |
Geoff Nash / Henrik Persson (Corporate Finance) | |
Brian Patient (Corporate Broking) | |
College Hill | +44 (0)20 7457 2020 |
Adrian Duffield/Rozi Morris |
About Toumaz - (www.toumazltd.com)
Toumaz has established itself as a pioneer in low cost, ultra-low power wireless technologies for a wide range of markets including medical monitoring and internet connected consumer devices. The recent acquisition of Frontier brings operational scale and expertise together with a leadership position in digital and networked audio markets. The Group will combine its strong technology base with the commercial scale of Frontier to exploit two key wireless technology sectors:
·; Professional healthcare solutions
·; Consumer semiconductors in digital audio and sport & health markets
Targeting the professional healthcare market, Toumaz's ultra-low power sensor platform, Sensium™, is a leader in real-time wireless monitoring of the body's vital signs with the potential to transform medical monitoring and reduce the cost of healthcare. For healthcare professionals, this creates new opportunities for pro-active monitoring and improved quality of care. For patients, it delivers new opportunities for personalised healthcare.
Toumaz plans to transfer its Sensium™ technology to the consumer sports and health market, where its advanced measurement algorithms and low energy solutions give it a competitive advantage.
Toumaz is also using its expertise to design devices for wireless connectivity and internet-connected consumer products. The strong relationship with Imagination Technologies gives Toumaz access to key technologies to exploit the high growth Network Audio market which is underpinned by the shift from physical media to cloud based music access and storage. The acquisition of Frontier has further enhanced the Group's technology portfolio in Network Audio and elevates Toumaz to a market leadership position in this and the digital radio markets. The Group now supplies multimedia/FM/DAB chips and modules to all major audio brands.
Toumaz is an AIM listed company (AIM: TMZ) with development centres in Oxford and Cambridge in the UK and in Hong Kong and in Shenzhen in the People's Republic of China.