New Appointments to the Board of Quickflix
Quickflix (ASX: QFX) Australia’s leading online DVD rental and movie subscription service today announced the appointment of two new Non Executive Directors to its board.
Melbourne-based Simon Baker, former managing director and CEO of the REA Group Limited (realestate.com.au) and Sydney-based Ross McCreath, senior media executive and a veteran of PayTV in Australia will join the Quickflix board following the Company’s annual general meeting on 12 November, 2009. Simon Baker recently became a significant shareholder of Quickflix with a 6.4% holding.
Simon Baker and Ross McCreath will join Stephen Langsford, Founder and Executive Director and Simon Hodge, Managing Director on the board and replace Non Executive Directors Kevin Campbell AM and Jon Schahinger who have announced that they will be stepping down. Kevin Campbell will step down after the next AGM at which time Stephen Langsford will become Executive Chairman. Jon Schahinger will step down in February 2010.
The Company’s Chairman, Kevin Campbell, said “We concluded that the board changes would provide additional vigour to drive the next stage of Quickflix’s growth plans and are pleased to have identified two highly qualified individuals.”
Also commenting on the appointments today, Stephen Langsford said “We are delighted to be appointing two such high calibre individuals to the board of directors. They bring with them significant online, media and business expertise and we look forward to their contribution as we extend our lead and develop Quickflix into a major internet, media and entertainment brand. The depth of experience that Simon and Ross bring to Quickflix will be invaluable in assisting us to meet our aggressive growth targets.”
“We also take this opportunity of thanking Kevin Campbell and Jon Schahinger for their outstanding contribution to Quickflix.. Kevin and Jon joined our board at the time of our listing in 2005 when we were only 2,000 subscribers and have provided invaluable support as the Company has found its feet and moved on from an early-stage start-up.”
A brief background on the new board appointees follows:
Simon Baker (42, BSc, MBA)
Simon has extensive experience in the online industry having owned and or operated a number of online classified businesses, most notably the REA Group (realestate.com.au). He is currently the CEO of Classified Ad Ventures Pty Ltd – a business that invests in online classifieds companies, develops new online products, and provides consulting services to online classified players around the world.
During Simon’s 7.5 years as Managing Director and Chief Executive Officer of the listed REA Group the business increased revenues from $4 million to $156 million, turned around a loss of $6m to an EBITDA profit of $37m, and increased its market capitalisation from $8 million to $600 million. Prior to becoming CEO, Simon was Chief Business Development Officer at News Interactive, was Chief Technology Officer in a US start up and spent five years with McKinsey and Company providing strategic and organisational advice to Senior Management at major Australian and international companies.
Ross McCreath (46, BEc, CPA)
Ross has a long career in media with over 20 years experience in managing entrepreneurial media organisations through periods of strong growth and sharp downturns, most recently as CFO of regional Television Broadcaster WIN Corporation. Ross has also served as CFO and Company Secretary of Australia’s largest listed TV production and distribution company, Southern Star Group Limited and prior to that was one of the founding executives of start-up pay TV operator Australis Media Limited where he served in a wide range of both financial, strategy and programming roles over of 11 years with Australis and its founding company.
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