3 Dec 2018 08:30
3 December 2018
Maestrano Group PLC ("Maestrano" or the "Company")
Maestrano appoints Andrew Pearson CEO and Managing Director
Maestrano Group PLC (AIM: MNO), the open cloud business integration platform with cross-app data synchronization, announces the appointment of Andrew Pearson as Chief Executive Officer and Managing Director.
Stephane Ibos is stepping down as CEO, as the Company is transitioning to an execution phase that will be focused on UK and North American markets, better served from a UK base. Andrew Pearson joined as Deputy CEO in September and the board agrees is the ideal candidate for the role, with direct experience in achieving rapid scale for a Software as a Service company in the US and other markets.
Stephane will continue to serve as a Non-executive member of the Board of Directors.
Stephane Ibos commented:
"We feel that is the right time to make this important change, as the Company evolves from a start-up to a fast-scaling commercial enterprise. I am proud of the success Maestrano has achieved to date and I am very confident that Andrew will deliver on our potential, for the benefit of all stakeholders."
Andrew Pearson, CEO of Maestrano, commented:
"I am honoured to be appointed CEO and to lead the company through the next stage of its development and commercial success. I would like to thank Stephane for his support to date and going forward, as the team takes on new challenges and fulfils our promise."
Ian Buddery, Chairman of the Board, said:
"Andrew joined the Company in September 2018 and has exceeded our expectations in bringing his global execution experience to bear, as we delivered complex and time-critical projects. The Board feels that as CEO, he can build on his proven record and ensure our long-term success in the cloud software market.
I would like to recognise Stephane for not only his enormous contribution as founding CEO, but also his commitment to the best interests of all stakeholders in the business. Andrew's appointment was not only unanimously supported by the board, but also had the full and enthusiastic support of Stephane and Arnaud Lachaume, the Company's founders."
The following disclosures are made in accordance with the AIM Rules for Companies. Other than this information, there is no further information required to be disclosed under paragraph (g) of Schedule Two of the AIM Rules for Companies:
Full Name | Andrew Pearson |
Age | 55 |
Current beneficial shareholding in the Company | None |
Current Directorships | CloudPay España SL CloudPay Holdings Limited CloudPay Holdings SA CloudPay Inc CloudPay kft CloudPay Philippines Inc. CloudPay Software Service (Shanghai) Limited CloudPay Solutions Limited CloudPay Technology Limited CloudPay United Kingdom Limited Thrusters On Full Ltd Wayin Inc |
Former Directorships (previous five years) | CloudPay Asia PTE Ltd CloudPay Holdings Inc CloudPay Hong Kong Limited CloudPay Italy S.r.l CloudPay Philippines Inc. CloudPay Solutions Inc LightwaveRF plc LightwaveRF Technology Limited |
Enquiries:
Maestrano Group plc Ian Buddery, Chairman Andrew Pearson, CEO
| c/o IFC |
Grant Thornton (Nominated Adviser) Colin Aaronson / Jamie Barklem
| +44 (0)20 7383 5100 |
Arden Partners (Broker) Ruari McGirr / Ciaran Walsh / Alex Penney
| +44 (0)20 7614 5900 |
IFC Advisory Limited (Financial PR & IR) Graham Herring / Miles Nolan / Zach Cohen graham.herring@investor-focus.co.uk miles.nolan@investor-focus.co.uk | +44 (0)20 3934 6630 |
About Maestrano
Maestrano develops and deploys a patented cloud-based Platform as a Service that serves the needs of Small to Medium Businesses (SMBs) and large Enterprises (such as major banks and global accounting firms) to access real time, automated management data efficiently on an integrated platform. This technology is called Master Data Management (MDM).
Further information on the Group is available at www.maestrano.com
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.