11 Dec 2020 13:10
11 December 2020
Ocean Outdoor Limited
("Ocean" or the "Company" or the "Group")
Changes to the Board of Directors
Ocean Outdoor Limited (LSE: OOUT), a leading operator of premium Digital Out-of-Home ("DOOH") advertising in the United Kingdom, the Netherlands, the Nordics and Germany, is pleased to announce two additions to the Board of the Company, effective on December 31, 2020.
Thomas S. ("Tad") Smith, Jr. has joined the Board of the Company as independent non-executive Director, and Stephen Joseph, Ocean's COO and CFO, has joined the Board of the Company as an executive Director.
Mr. Smith served as President, Chief Executive Officer and Director of Sotheby's between March 2015 and October 2019. From February 2014 to March 2015, he served as President and Chief Executive Officer of The Madison Square Garden Company, a diversified media, entertainment and sports company. From 2009 to February 2014, Mr. Smith was President, Local Media, of Cablevision, responsible for Cablevision Media Sales.
Mr. Joseph is the COO and CFO of Ocean and has been with the Company since 2009. Mr. Joseph is involved in all aspects of the business which includes M&A, investor relations, key commercial arrangements, operations & finance.
Aryeh B. Bourkoff, Chairman of the Board of Ocean, commented "Tad's successful track record of industry leadership as a CEO and board member makes him a strong addition to our board, and his media and financial acumen will complement the diverse skillsets of our existing directors. We also welcome Stephen to the board, underscoring his leadership and deep insight having built the Ocean business, and look forward to both of their contributions."
For further information please contact:
Ocean Outdoor Tim Bleakley, CEO Susann Jerry, Head of Corporate Communications
| 020 7292 6161 |
Yellow Jersey PR Charles Goodwin Georgia Colkin | 0774 778 8221 |
About Ocean Outdoor
Ocean Outdoor operates some of the most prestigious digital out-of-home (DOOH) locations in the UK, Northern and Continental Europe. The Group portfolio includes 4,000 screens in seven countries and 270 cities.
In the UK, Ocean operates the most iconic DOOH locations including the BFI IMAX; the Landsec Piccadilly Lights; and has a significant presence in the top 13 UK cities. Ocean's high-profile landlords and partners include Birmingham, Manchester, Glasgow and Southampton City Councils, Landsec, Unibail-Rodamco-Westfield, the BFI and Intu. A continued focus on Ocean's Digital Cities for Digital Citizens philosophy has significantly augmented the Group's position as an operator of high quality DOOH assets. Ocean continues to deliver good organic development through new City tender wins, the rollout of new locations in Scotland, London, the West Midlands and Manchester and significant screen investment.
Strategic acquisitions that complement the existing DOOH portfolio remain a strategic pillar of the growth programme. This continued with three Dutch acquisitions in spring 2019, giving the company a significant share of the Netherlands market where it has become a major DOOH player. These subsidiaries have since been rebranded as Ocean Outdoor Netherlands.
In September 2019, Ocean acquired the assets of Visual Art, a Sweden based independent, pure-play DOOH media and tech group which operates in three Nordic countries (Sweden, Norway, Denmark) and key cities in Germany. This transaction expands Ocean's portfolio across 23 Unibail-Rodamco-Westfield shopping malls in Europe, in addition to holding the exclusive external rights to two of the largest premium urban shopping malls in Europe: Westfield London and Westfield Stratford in the UK.
In February 2020, Ocean closed the acquisition of AdCityMedia, a Sweden-based premium out-of-home and digital screen tech operator focused on large format digital and high-end city centre locations across Sweden, Norway, Denmark and Finland. The combined entities of Visual Art and AdCityMedia, referred to as Ocean Outdoor Nordics, creates the leading DOOH operator in the region.