TIDMEYE
RNS Number : 3743J
Eagle Eye Solutions Group PLC
09 September 2016
9 September 2016
Eagle Eye Solutions Group PLC
("Eagle Eye" or "Company")
Strategic Board changes to capitalise on future growth
opportunities
Eagle Eye, the SaaS technology company that validates and
redeems digital promotions in real-time for the grocery, retail and
hospitality industries, announces the following Board changes:
-- Tim Mason, previously Non-Executive Chairman, becomes Chief Executive Officer
-- Phill Blundell, previously Chief Executive Officer, becomes
Deputy Chief Executive Officer to strengthen Eagle Eye's capability
to deliver its international growth strategy
-- Malcolm Wall, previously a Non-Executive Director, becomes Non-Executive Chairman
-- Drew Thomson, Non-Executive Director, becomes Remuneration Committee Chairman
Tim Mason joined the Company in January 2016 and has gained a
deep understanding of Eagle Eye's business, products, strategy and
culture. He brings more than 30 years' experience within the
grocery and retail industries, with a strong background in
strategic marketing and customer loyalty. He held a number of key
roles within the Tesco Group between 1982 and 2012 including Chief
Marketing Officer, Chief Executive Officer of Fresh & Easy LLC,
and Deputy Chief Executive Officer of Tesco between January 2010
and December 2012. During this time there, Tim was instrumental in
launching Clubcard and changing the way customer data was analysed
to target customers in conjunction with dunnhumby. Tim's wealth of
experience and network, both domestically and internationally, as
well as his knowledge of Eagle Eye mean that he is uniquely placed
to lead the Company into the next phase of its growth.
Phill Blundell's new role as Deputy Chief Executive Officer will
focus on the overseas growth strategy and international development
for the business. The international opportunity for Eagle Eye was
opened up in North America following the significant contract win
with Loblaw Inc ("Loblaw"), the Company's first overseas Tier 1
grocery customer, in February 2016. This contract is now underway
with the implementation of Eagle Eye AIR within Loblaw Inc and
today's move strengthens Eagle Eye's capability to capitalise on
the significant international market opportunity.
Malcolm Wall, a Non-Executive Director since the Company's IPO
in 2014, replaces Tim Mason as Non-Executive Chairman with
immediate effect. Malcolm's knowledge of the digital marketing
sector and extensive management experience positions him well to
support and guide the management team during the next phase of
growth.
As Malcolm currently holds the position of Remuneration
Committee Chairman, Drew Thomson will now succeed him in this role.
There are no further Board committee changes.
Tim Mason, Chief Executive of Eagle Eye, commented: "When I
joined Eagle Eye in January this year, I saw a company with a
vision and proven technology to transform an industry. Since then I
have been able to verify this opportunity and believe the time is
right to accelerate our business development. I am delighted to
help take the business into its next phase of accelerated growth
and to capitalise on our first mover advantage and our successes so
far in the UK and overseas.
I would like to thank Phill Blundell for leading the business
through its IPO and having delivered the progress achieved so far,
and I look forward to working more closely with him and Steve
Rothwell our founder as well as the rest of the great team at Eagle
Eye."
Malcolm Wall, Non-Executive Chairman, commented: "I am delighted
to be able to help shape the Company's future as Chairman and am
very pleased that Tim has accepted the role of Chief Executive
alongside Phill as Deputy Chief Executive Officer. Tim brings a
wealth of relevant experience and an extensive network of Tier 1 UK
and international contacts which will be invaluable to Eagle Eye as
Tim dedicates himself fully to the Company. The Board changes
announced today will deepen and strengthen the management team to
deliver against our overall ambitions. The Board and I look forward
to the next phase of the Eagle Eye's growth."
Eagle Eye confirms that there are no further disclosures to be
made in relation to Rule 17 or paragraph (g) of Schedule Two of the
AIM Rules for Companies.
- Ends -
For further information, please contact:
Eagle Eye 0844 824 3686
Tim Mason, Chief Executive Officer
Lucy Sharman-Munday, Chief Financial Officer
Investec 020 7597 5000
Dominic Emery / David Anderson, Corporate
Finance
Matt Lewis, Corporate Broking
Hudson Sandler 0207 796 4133
Nick Lyon / Alex Brennan
Information on Eagle Eye
www.eagleeye.com
Eagle Eye is a leading SaaS technology company that securely
validates and redeems digital promotions in real-time for the
grocery, retail and hospitality industries.
The Company's digital marketing platform, Eagle Eye AIR, enables
the secure, real-time, multi-channel issuance, management and
redemption of digital promotions and rewards, replacing previously
used paper-based methods. Our Eagle Eye platform creates a network
effect between merchants, distributors and brands enabling stronger
connections and value to all parties. Through our four products we
enable brands and merchants to reduce cost, improve their customer
offer and accelerate their innovation.
The UK promotions market is currently transitioning through
substantial change as both retailers and consumers are moving away
from paper and plastic to digital. In 2014 there were in excess of
730 million coupons redeemed in the UK(1) , and 16 billion digital
coupons redeemed worldwide(2) .
The Eagle Eye AIR platform comprises four key products: Eagle
Eye Promote - for the management of offers and promotions, Eagle
Eye Gift - for gift cards and customer care, Eagle Eye Reward - for
loyalty and reward schemes and Eagle Eye Engage - for digital
messaging. These four products enable the Company's customers to
deliver targeted promotions, gift vouchers and rewards to consumers
in real time, in a simple and secure way, across multiple marketing
communications channels including email, SMS messaging and loyalty
apps. The promotions can be redeemed securely by the consumer
through any enabled point of sale channel.
The Company's current customer base comprises leading names in
UK grocery, retail and hospitality including Asda, Greggs, JD
Sports, Ladbrokes, Marks & Spencer, Mitchells & Butlers,
Pizza Express, Tesco and Thomas Pink.
Notes:
1. Source: Valassis 2014
2. Source: Statista 2014
This information is provided by RNS
The company news service from the London Stock Exchange
END
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