15 Jul 2015 07:00
Proxama PLC
("Proxama" or the "Company")
Appointment of Interim Chief Executive Officer
London, 15 July 2015: Proxama PLC (AIM: PROX), the international mobile commerce Company specialising in proximity marketing and provider of end-to-end payment solutions for card issuers, is pleased to confirm that John Kennedy will be Interim Chief Executive Officer, alongside his role as Chief Financial Officer, until a successor is found for Neil Garner who announced his intention to step down from the CEO role in May 2015.
Neil Garner will remain on the Board and will lead the strategic development of new technologies, products and partnerships. The process of finding a long-term successor to Neil is underway and the Board will take the time necessary to select the best person to lead the business as it continues to commercialise the Company's technical expertise and IP.
Commenting on the appointment, David Bailey, Chairman of Proxama, said, "As a Board we are very pleased that John has stepped in to take on the CEO role during what is a very important period for the Company when both the Proximity Marketing and Payment divisions are securing new commercial contracts. John and the Executive Team have had a positive influence on the business since the turn of the year, particularly in driving the process of integration and commercialisation of our products across the business. John's appointment is a natural extension of the activity he has already been undertaking.
As I commented in May earlier this year, Neil has been the inspiration behind the business and we are fortunate, that he has been instrumental in making these management changes for the greater good of the Company and that he will continue to play a key role in the future development of the business."
Enquiries:
Proxama PLC John Kennedy | 020 3668 2888 |
Peel Hunt LLP (Nominated Adviser and Broker) Richard Kauffer Euan Brown | 020 7418 8900 |
Novella Tim Robertson Ben Heath |
020 3151 7008
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About Proxama
· Proxama is an international mobile commerce Company specialising in proximity marketing via mobile and providing end-to-end solutions for card issuers to migrate customers from magnetic stripe credit and debit cards to contactless mobile payments.
· The technology to support mobile payments is now in place. 90% of the world's smartphones have technology to make mobile payments and in 2015 30 million contactless mobile payments are expected to be made compared to 3 million in 2014.
· Proxama has been at the forefront of this market for the last 10 years. Today, Proxama's solutions are used by banks, financial institutions, loyalty companies, media owners, stadium owners, retailers and brands. Current clients include: Fiserv, Exterion Media, Harrods, Ubisoft, Gala, Purple Seven and Argos.
· The proximity marketing division focuses on connecting consumers to brands and retailers via Bluetooth Low Energy (BLE) beacon technology and Near Field Communication (NFC). Proxama establishes and owns beacon networks in high footfall locations such as City Centres, transport networks, stadia, shopping malls, entertainment hubs and retail outlets, which are then able to communicate to consumers via messages to mobiles when the consumer is in close proximity to a beacon. The technology platform at the heart of this division is TapPoint®
· The payments division manages end-to-end credit and debit cards solutions on behalf financial institutions in the United States, Europe and the Middle East and specialises in enabling the migration of cards from magnetic stripe cards, to chip and pin cards and from contactless chip cards to mobile devices. The technology behind this division is Proxama's Digital Enablement Platform.