Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Swift Media reveals key board and management personnel transition

Proactive Investors Wednesday, 3 April 2019
Swift Media Ltd (ASX:SW1) and its managing director and CEO, Xavier Kris, have mutually agreed that Kris will step down as managing director and CEO when his existing contract ends on June 30, 2019. Kris has advised the company that he wishes to pursue outside business interests following the completion of his contract, although he intends to remain a long-term Swift shareholder. READ: Swift Media’s sustained revenue and profit growth translate into higher operating cash flow Swift has commenced a search for a new CEO and is also making progress in appointing a new independent non-executive chairman following the non-executive chairman, Carl Clump, having stepped down from the board of directors in February 2019. Kris will remain engaged as interim executive chairman until September 30, 2019 or the appointment of a new chairman, whichever is earlier. He will also continue to provide general commercial consulting services to the company until December 31, 2019 to facilitate knowledge transfer, management transition and assist in Swift’s continued development. READ: Swift Media’s mobile entertainment platform to expand globally after passing first growth target Swift director Robert Sofoulis said: “On behalf of my fellow directors and Swift’s senior management, I would like to recognise Xavier’s significant contribution to the growth of the company during his tenure of almost three years as CEO of Swift. “During this period, Xavier has been instrumental in providing decisive leadership and the execution of Swift's growth strategy. “As CEO, Xavier spearheaded the successful listing of the business on the ASX in May 2016. He has overseen an expansion in the company’s annual revenue of more than 50% from the end of FY16 to the end of FY18 – growth that has continued well into FY19. “This has been accompanied by an EBITDA turnaround from a $1.5 million loss in FY16 to earnings of $2.8 million in the half-year to December 2018. READ: Swift Media achieves first performance milestone based on room growth “Xavier’s vision and commercial acumen have driven the company’s multi-year evolution from a communications service provider focused on the Australian resources industry to a high-value advertising, content and media group operating in diverse and attractive end-markets. “My fellow directors and I would like to thank Xavier for his service, and we look forward to having him assist our imminent management transition.”
Credit: BeetTV - Affiliate - Published < > Embed
News video: Live TV Plus Programmatic Is Sling TV’s Sweet Spot: DISH Media EVP Arrix

Live TV Plus Programmatic Is Sling TV’s Sweet Spot: DISH Media EVP Arrix 05:00

With nothing but more streaming competitors on the horizon, DISH Media’s Sling TV is nonetheless buoyed by consumer behavior. “The Sling TV audience basically consists of cord nevers and cord cutters. And that is only going to grow going forward. I think the consumer behavior stats that we see...

You Might Like

Recent related videos from verified sources

Under pressure’ media shows Modi’s speeches whole day: Rahul Gandhi | OneIndia News [Video]Under pressure’ media shows Modi’s speeches whole day: Rahul Gandhi | OneIndia News

Media is scared of Prime Minister Narendra Modi and under pressure, broadcasts his speeches whole day, Rahul Gandhi claimed this at a poll rally in Haryana’s Mahendragarh. Former Congress president..

Credit: Oneindia     Duration: 01:42Published

Georgia-Pacific CMO Bergsma: Investing in Employees Leads to Better Outcomes [Video]Georgia-Pacific CMO Bergsma: Investing in Employees Leads to Better Outcomes

ORLANDO – Georgia-Pacific has changed its outlook on how to grow and leverage people in their roles within the company. In an interview with Beet.TV at the CMO Growth Council, Douwe Bergsma, CMO at..

Credit: BeetTV - Affiliate     Duration: 04:58Published

Recent related news from verified sources

Swift Media fields commitments from institutional and professional investors to raise $1.55 million

Swift Media Ltd (ASX:SW1) has received firm commitments to raise $1.55 million through a placement of more than 10.751 million shares to institutional and...
Proactive Investors

Swift Media in trading halt ahead of capital raising news

Swift Media Ltd (ASX:SW1) has been granted a trading halt by the ASX with a capital raising announcement pending. The trading halt will remain in place until...
Proactive Investors

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.