16th Dec 2005 07:01
NETeller PLC16 December 2005 For immediate release NETELLER PLC ANNOUNCES BOARD CHANGES NETELLER Plc ('NETELLER' or the 'Company'), a leading online money transferservice provider, is pleased to announce that Ron Martin was appointed to theBoard as a director on 15 December, and will be appointed as Chief ExecutiveOfficer with effect from 1 January 2006. Ron, who is currently Chief OperatingOfficer of the Company, will succeed current CEO Gord Herman who is to becomeExecutive Vice Chairman with effect from the same date. Ron Martin (42) joined the Company in July 2005 and has extensive managementexperience in service, outsourcing and high growth software firms. He has heldvaried executive positions with companies such as The Franchise Corporation, asubsidiary of the FirstService Corporation, Salesnet Inc. and most recentlyGloboforce Ltd where he was recruited by Benchmark Capital to lead all aspectsof Globoforce's North American operations, with a focus on rapid top line growthand sound product development. Since his appointment as Chief Operating Officerof the Company, Ron has made a considerable contribution to all operationalaspects of the business, in particular the implementation of the next generationsystem. As Executive Vice Chairman, Gord Herman will continue to have a significantexecutive role within NETELLER, focusing on the Company's strategic objectives,and in particular the development of the Company's banking strategy andextension of the peer-to-peer money transfer business. Ron Martin, with areporting line to Gord Herman, will continue to focus on the growth anddevelopment of the Company's existing gaming related operations. In addition, the Company announces that John Lefebvre will be stepping down fromthe Board as a non-executive director with immediate effect. The Board wouldlike to thank John for his very significant contribution and support in helpingto build NETELLER into the successful company it is today and to wish him wellfor the future. Steve Lawrence, Chairman, commented "I am delighted that Ron has been appointedto the Board and will succeed Gord as Chief Executive Officer on 1 January 2006.Ron has already demonstrated a thorough understanding of NETELLER's operationssince his appointment as Chief Operating Officer and has helped to position theCompany for the next phase of its development. He will have a key role indriving our global expansion and continuing growth. These Board changes complete the process we commenced in early 2005 to identifya suitable successor to Gord Herman, who has led the Company so successfullyover recent years. I am pleased that Gord has decided to continue his activeinvolvement in the Company as Executive Vice Chairman as his experience will beinvaluable, particularly as we seek to grow NETELLER's non-gaming relatedoperations. I look forward to the future for NETELLER with confidence." Ron Martin details: Mr Martin, aged 42, currently holds and has held directorships, during the fiveyears preceding the date of this announcement, other than the Company asfollows: Current: NX Systems UK Limited - from 30 September 2005 Netbanx Limited - from 28 October 2005 Netinvest Limited - from 28 October 2005 Previous: None Enquiries: NETELLER Plc 01624 698 702 Gord Herman, Chief Executive OfficerRon Martin, Chief Operating OfficerEric Hughes, Chief Financial OfficerAndrew Gilchrist, Vice President - Communications 01293 897 515 Citigate Dewe Rogerson 0207 638 9571Sarah Gestetner/Seb Hoyle/George Cazenove Notes to Editors The NETELLER Group The NETELLER Group operates an online money transfer service that utilises andextends the existing international banking structure to provide a secure meansof transferring funds worldwide. A NETELLER account acts as a virtual walletthat enables customers (individuals who open NETELLER accounts) to load,withdraw and transfer funds by purchasing e-money. E-money can be instantlytransferred to or from any merchant (or internet site) that supports NETELLER'sonline payments system for goods and services. Additionally, funds can betransferred between individual customers in peer-to-peer exchanges. NETELLERhas over 2 million customers and approximately 1,700 supporting merchants,making the Company a leader in online payment services. NETELLER UK Limited isauthorised by the Financial Services Authority (FSA) to operate as a regulatede-money issuer. Further information may be obtained from the NETELLER's websiteat www.neteller.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Paysafe Group