29th Jul 2015 08:25
LONDON (Alliance News) - Shares in Phorm Corp Ltd were trading higher on Wednesday after the internet personalisation technology company said Timothy Smith has been appointed as its chief executive officer with immediate effect.
Lex Fenwick, who became interim executive chairman on July 15, will now become the non-executive chairman of the company.
Fenwick is the former chief executive of Dow Jones, part of News Corp, and Bloomberg LP. Smith previously held positions at Arbitron Inc.
Earlier this month, Phorm said Kent Entrugrul, its chief executive and executive chairman, and Andy Croxson, its chief financial officer, had both stepped down with immediate effect.
Phorm shares were up 3.6% to 3.885 pence on Wednesday morning, having earlier been up around 10%.
By Sam Unsted; [email protected]; @SamUAtAlliance
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