Snakk appoints new Chair; refreshes Board for next phase

With the next phase of international growth imminent for mobile advertising technology company Snakk Media Ltd., [NZX: SNK], the company is continuing to evolve the Board, which has today appointed Australian technology industry veteran Peter James as Executive Director and Chair, a role that will now be based in Sydney.

Mr James’ experience includes over 20 years as a Board member of a range of Australian public companies. He currently chairs ASX-listed Macquarie Telecom Group Ltd in addition to a variety of emerging digital media and technology businesses in Australia and the US. Since 2003 and until last week, Peter was a director of leading ASX-listed telecommunications company iiNet Ltd, recently acquired by TPG Telecom for AUD$1.5b.

Current Chair Derek Handley, who has been with Snakk since co-founding the company in 2010, will step down as a director once the Board agrees an effective transition has taken place, likely by the end of 2015.

Mr Handley believes the timing is right to rejuvenate the Board for the company’s next level of growth and to transition out of the Executive Chair role as Snakk builds upon its entry into important new markets in Asia. As one of Snakk’s largest shareholders, Mr Handley remains optimistic regarding the company’s potential.

“Snakk is evolving steadily and the time is right to refresh the Board, adding directors who have been involved with growth-stage companies, and who also have diverse technology-focused skillsets,” says Mr Handley. “As companies move from start-up to listing, to entering multiple new markets, it is important they add new talent across all areas of the company. Refreshing and strengthening the Board is a key part of this process.”

In addition, current director Michelle Kong will retire from the Board following the company’s Annual Meeting on 16 September. Ms Kong joined the Board prior to its stock exchange listing in March 2013.

As the company enters its next stage, Ms Kong feels the time is right to add new talent to the Board. She is also looking to devote more time towards the growing demands of her young family, together with a return to full-time employment with her current employer, Spark. The Board thanks her for her valuable input during a critical time at the earliest stages of Snakk’s journey and wishes her the best for the future.  

Martin Riegel, who has a successful and diverse background working in technology and its commercialisation in the US and New Zealand, was appointed to the Board in June. This signalled Snakk’s first step in the Board’s evolution, and the company is now looking forward to Peter James joining as Executive Chair.

Mr James has a solid track record of joining early-stage listed companies, steering them toward significantly increased revenues and value. He says: “I am looking forward to joining Snakk. The company is well positioned to capitalise on the enormous and largely untapped opportunity of mobile advertising, with a growing number of consumers spending more time on these screens.”