31 May 2016 07:00
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 Don Elgie, Executive Chairman Mark Carlisle, Chief Financial Officer
| +44 (0) 20 3772 2496 via Bell Pottinger |
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