Location Sciences removes ceo and cfo in effort to reduce costs

Mon, 21st Jun 2021

After deliberation, Location Sciences, the mobile location intelligence company, has conclude that steps needed to be taken to reduce operating costs. March Slade (ceo) and David Rae (cfo) have been given notice. Both have 12 month notice periods. Both Mark and David will continue as employees and members of the board until value from existing businesses is worked out. Simon Wilkinson, non-executive chairman, commented: "I would like to place my thanks on record to Mark and David, who were instrumental in the recent fundraising which has given the Company a huge opportunity to deliver value for shareholders. I look forward to continuing to work with Mark and David to realise the best value from the existing businesses." Location Sciences is a global location verification provider to the $160 billion digital advertising industry. It works in partnership with brands, media agencies and suppliers to reduce ad-wastage and improve the effectiveness of location-based advertising campaigns. Story provided by StockMarketWire.com

FTSE 100 Latest