5 December 2005
121Media, Inc.
Directorate changes
121Media, Inc., the contextual online advertising company ("121Media" or "the
Company"), announces the following Board changes, with effect from today's
date.
David Andrew Gwozdz, aged 41, currently Senior Vice President, Business
Development and Sales of 121Media, has been appointed to the Board as a
Director.
David, who joined 121Media in August 2005, was one of the founding team of
DoubleClick, the NASDAQ-listed internet advertising solutions corporation
recently acquired by a private equity consortium for $1.1 billion. He devised
and implemented DoubleClick's original media sales products and strategies, and
built, trained and managed multiple industry leading sales teams in all areas
of online advertising, sponsorships, promotions and e-mail. He also initiated
and managed high level relationships with some of the US's top marketers
including IBM, Disney, Intel, Gap, Microsoft, Coca-cola, Dell, American
Airlines and their advertising agencies.
Timothy James Ewart Bowen ("Tim"), aged 41, has been appointed to the Board as
a Director and as Chief Financial Officer. Tim will devote at least half his
time to the conduct of the affairs of the Company.
Tim has over 10 years experience of managing fast growing IT-related
businesses. From 2000 until earlier this year, he was Chief Operating Officer
and Chief Financial Officer of IDOX plc, the information management group.
During his five years at IDOX he played a significant role in the company's
listing on the AIM and oversaw three subsequent acquisitions and related
fundraisings.
Previously Tim was Chief Financial Officer of Channelfly plc, the music and
media group which listed on AIM in 1999. From 1995 to 1999, he was Finance
Director and Company Secretary of Definitive Group, a privately-owned IT
services group.
Tim is also a non-executive Director of Hitec (Laboratories) Limited, a
privately owned software company where he is responsible for corporate finance
activities.
David Mattey has stepped down from his role as non-executive Director, due to
the time commitment required by his other business interests.
Ahmet Can has stepped down from his position as a Director, but will remain
with the Company as Senior Vice President, Corporate Development.
David Svendsen, Chairman of 121Media, said:
"We are delighted to welcome David Gwozdz and Tim Bowen to the Board.
David has done an outstanding job since he joined us earlier this year, both in
building up our business development and sales capabilities and in gaining
traction for us in the enormously valuable US ISP market. His appointment to
the Board reflects his contribution to date and the critical importance of
developing our ISP partnerships going forward.
Tim has a strong track record of the financial management of fast growing
quoted companies at Board level. 121Media has matured considerably in the past
twelve months and now is the right time to formalise the executive role of CFO
- a role for which he is ideally qualified.
We are very grateful to David Mattey for all that he has done for 121Media and,
in particular, for his guidance on and involvement in our AIM flotation in
2004.
We are also very grateful to Ahmet Can for the leading role he has played to
date in establishing our US infrastructure and helping to build up the US team.
We are delighted that we will be able to continue to call on his considerable
industry experience in his new role within Corporate Development.
These changes leave us with a Board of the appropriate size and with the right
experience to capitalise fully on the significant opportunities that exist for
us in the provision of high value targeted advertising technology to Internet
Service providers."
- Ends -
For further information contact:
John Olsen / Barnaby Fry Hogarth Partnership Tel: 020 7357 9477
Kent Ertugrul / Tim 121 Media, Inc Tel: 020 7484 5391
Bowen
Further details relating to the Directors;
At the date of this announcement, David Gwozdz holds 3,400 Ordinary Shares,
representing 0.04 per cent. of the issued share capital of 121 Media, and
75,000 options to subscribe for Ordinary Shares at an exercise price of £1.715
per share exercisable between 3 October 2005 and 3 October 2015.
He is currently a partner of Seacliff Ventures LLC and FlyFish Media LLC.
There is no further information to be disclosed in respect of David Gwozdz
under paragraph (g) of Schedule 2 of the AIM Rules.
At the date of this announcement, Tim Bowen holds 5,000 Ordinary Shares,
representing 0.06 per cent. of the issued share capital of 121 Media, and
100,000 options to subscribe for Ordinary Shares at an exercise price of £1.58
per share exercisable between 1 December 2005 and 1 December 2015.
He is currently a director of Bowen Limited, Hitec (Laboratories) Limited and
Manor Lane Management Limited.
In the past five years he has been a director of IDOX plc, TFPL Limited, Stew
Limited, The Planning Exchange Limited, Nettgain Solutions Limited, Mandoforms
Limited, Information into Intelligence Limited, i-documentsystems Trustees
Limited, IDOX Information Services Limited and i-documentsystems Limited.
There is no further information to be disclosed in respect of Tim Bowen under
paragraph (g) of Schedule 2 of the AIM Rules.
END
© 2005 PR Newswire
