("blinkx" or "the Company")
SAN FRANCISCO, CALIF. — July 19, 2012. The Board of blinkx plc (LSE: blnx; “blinkx” or “Company”) is pleased to announce today the broadening of the senior leadership team following a period of significant growth.
Suranga Chandratillake, the Founder and current Chief Executive Officer of the Company, has assumed the role of President and Chief Strategy Officer of blinkx and will continue serving as an Executive Member on its Board. In this position, he will be responsible for advancing and evangelizing the Company’s technology and product vision, and exploring new opportunities for growth. He will remain prominently involved in relationships with Investors, Partners and Advertisers.
Chief Operating Officer Subhransu (“Brian”) Mukherjee has been appointed CEO of blinkx and an Executive Member of its Board of Directors with immediate effect. As the CEO, Brian will be responsible for the overall leadership of the Company and the development and execution of the Company’s strategy, which includes leveraging the significant opportunities created by the recent acquisitions of Burst Media, Inc. and Prime Visibility Media Group, Inc. (PVMG).
Brian (45) brings over 12 years of executive management and operating experience at Public and Private companies in the technology and media sectors to the CEO role. Brian joined blinkx in 2011 through the acquisition of PVMG, where he was the President, CEO and a Director. Prior to PVMG, Brian was at Miva, Inc. (NASDAQ:MIVA), where he ran the Media Division globally. Before Miva, Brian led the acquisition of and ran the Contract Management Solutions Group at Selectica (NASDAQ: SLTC). During his career, Brian has also held Executive positions in Silicon Valley-based Internet, Mobile and Services startups, where he was responsible for raising capital, acquiring companies, building high performance teams and expanding partnerships to accelerate revenue and profitability growth. Brian started his career as an Engineer and a Management Consultant and holds BE and MS degrees in Engineering. He also holds an MBA from the University of Chicago.
Commenting on the appointment, Anthony Bettencourt, non-executive Chairman of blinkx, said,
“Under Suranga’s leadership, blinkx has been transformed from a start-up to a successful, profitable business with over 300 employees and several major acquisitions under its belt. blinkx is a fast-growing company in a rapidly changing industry, and its technology and IP still have potential that remains untapped. At this stage of any Company’s growth, ensuring the executive management team is set up to maximize the opportunities ahead is a key strategic imperative. When Suranga recommended that we consider moving Brian into the CEO role, it was clearly the right decision for the business. The Board felt that Brian had the right set of skills and operating experience to take the company forward as it continues to extend its leadership position in Online Video. This will allow Suranga to focus on strategic product initiatives and creating new opportunities for blinkx technology, while maintaining a prominent role with external stakeholders.”
Suranga Chandratillake added:
“Founding this company and building it from an idea to a business with over $100M in revenue over the past five years has been an incomparable experience. blinkx is a thriving and profitable business already, but it is also, at its core, a technology company with the potential for massive further innovation, and I believe the opportunity ahead of us requires a broader set of complementary management skills. I first met Brian five years ago and have watched him operate and grow multiple companies in our industry. Over the past nine months, working side by side with him at blinkx, I have seen him in action and know him to be an accomplished leader with deep management and operational experience. He will be excellent as our CEO and I am delighted to welcome him to the role.”
S. Brian Mukherjee commented:
“I am honored and excited to have the opportunity to lead blinkx in its next phase of growth. Suranga and the founding team have done an exceptional job in leveraging unique technology into a profitable business model. As a result, blinkx is now a leading player in a sector that continues to gain momentum. Through the acquisitions, the company has significantly expanded its commercial and technology footprint. It now has a tremendous opportunity and an established platform to accelerate revenue and profitability growth. I look forward to working closely with the entire blinkx team and the Board to pursue these opportunities and take the company to new heights.”
blinkx plc +1 (415) 655 1450
S. Brian Mukherjee, CEO
Suranga Chandratillake, Founder & President
Citigroup Global Markets Limited +44 (0)207 986 4000
(NOMAD and Broker for blinkx plc)
FTI Consulting +44 (0)20 7831 3113
While the company is not providing a full trading update at this time, sales, operations and integration progress are in line with expectations so far this half.
Subhransu Mukherjee, aged 45, is, or has been, a director of the following companies during the last 5 years.
|Name of Company
||Dates of appointment
|Prime Visibility Media Group, Inc.
||2010 – 2011
|Zen Capital Partners, LLC
||2009 – present
Mr. Mukherjee has options over 580,000 ordinary shares in the Company.
The Company confirms there is no other information required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules.