6 Dec 2012 07:00
| Date: | 6 December 2012 |
| On behalf of: | Cupid plc ('Cupid', the 'Company' or the 'Group') |
| Embargoed until: | 0700hrs |
Cupid plc
Director appointment and broadening of Executive Management team
Cupid plc is pleased to announce the appointment of Niall Stirling as Chief Financial Officer and the broadening of its executive management team to support the Group's continued growth strategy.
Director Appointment
Niall is joining the Board as CFO and Company Secretary on 3 January 2013. Niall has been working with Cupid since August 2012, leading the Group's five year strategic, financial and operational planning process and will be a complementary addition to Cupid's senior management team. Niall is an experienced consumer business CFO having joined Red Bull in 2003 and been CFO of Red Bull North America Inc. from 2006 to 2008. Since 2008 Niall has been CFO and Executive Director of Operations for the Performing Rights Society. Niall brings a wealth of finance and operational experience to Cupid and is a qualified Chartered Accountant.
The current CFO, Mark Doughty, will remain on the Board and assume the role of Commercial Director, a role that has been created in line with the Group's focus on international expansion. Mark will focus on growing the Group's revenue and profits in Developing Markets.
Executive Management Appointments
The Group is also pleased to announce the recruitment of Phil Gripton as Managing Director of Dating Services. Phil will be joining Cupid from 3 January 2013. Phil's most recent role was Chief Operating Officer of digital marketing and technology services business LBi/bigmouthmedia. Phil has considerable expertise in driving functional operations of large teams in the digital marketing arena and has also held senior commercial roles in the technology and telecoms sectors.
Vladimir Levykin the current Head of Operations will assume the new role of Managing Director of Social Discovery and will be responsible for driving forward new business models and developments within the Company, including its Facebook, mobile and social dating products. Tatyana Seredyuk, our current Director of Marketing is also transitioning to be Senior VP, North America - a new position based in our San Francisco office, where she will be fully responsible for our Americas business division.
Bill Dobbie, CEO of Cupid plc, said:
"We are very pleased to announce these appointments today which significantly broaden the executive management team at Cupid. Niall and Phil bring experience from the consumer brand industry and online marketing respectively, both areas of focus for ongoing development at Cupid. These and the other changes will support the Company in the continued execution of its rapid growth trajectory."
Additional information:
Niall Stirling has an interest in 500,000 ordinary share options in Cupid plc at an exercise price of £1.80 which vest in three equal annual tranches on 4 December 2013, 4 December 2014 and 4 December 2015 and are subject to him remaining as a director or employee of Cupid plc.
Niall Fraser Stirling (55) was a director of Isan UK Limited until October 2011.
No further disclosure is required under Paragraph (g) to Schedule Two of the AIM Rules with respect to Niall Stirling.
For further information please contact:
Cupid plc | Tel: +44 (0)131 526 3600 |
Mark Doughty, CFO | |
Bill Dobbie, CEO | |
Peel Hunt LLP (Nominated Adviser and Joint Broker) | Tel: +44 (0)207 418 8900 |
Richard Kauffer Daniel Harris | |
Numis Securities Ltd (Joint Broker) | Tel +44 (0)207 260 1000 |
Alex Ham | |
Nick Westlake | |
Redleaf Polhill | Tel: +44 (0)207 566 6720 |
Henry Columbine Rebecca Sanders-Hewett David Ison | cupid@redleafpolhill.com |
Notes to Editors
§ Cupid plc listed on AIM in June 2010 and is a leading provider of online dating services
§ Cupid has built significant and growing revenues in 15 countries.
§ Cupid offers a wide variety of online dating services allowing members to interact with each other and access the content available on the Group's websites. These websites are intended to appeal to dating users of diverse ages, cultures and social interest groups. The Group's most heavily visited websites include www.cupid.com, www.flirt.com, www.benaughty.com and www.girlsdateforfree.com. The Group also promotes the niche brands www.datingforparents.com, www.indiandating.com, www.loveagain.com and www.uniformdating.com.
§ Cupid plc products are available across the web and also via mobile application stores.
§ Further information on the Company can be found at www.cupidplc.com.