15th Jul 2015 10:34
LONDON (Alliance News) - Technology company Phorm Corp on Wednesday said its chief executive and chairman, and its chief financial officer have both stepped down as the company looks to position itself towards the US market.
Phorm said Kent Entrugrul, its chief executive and executive chairman, and Andy Croxson, its chief financial officer, have both stepped down with immediate effect. Entrugrul is based in Singapore, while Croxson is based in London.
Both are leaving to pursue other business interests.
Phorm said it is "currently in the process" of appointing Timothy Todd Smith as its new chief executive, and pending Smith's formal appointment Non-Executive Director Lex Fenwick will be appointed as executive chairman. Fenwick is the former chief executive of Dow Jones, part of News Corp, and Bloomberg LP. Smith previously held positions at Arbitron Inc.
Phorm shares were down 8.3% to 2.7501 pence after the news.
By Sam Unsted; [email protected]; @SamUAtAlliance and Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
PHRM.L