Appointment of CEO
Forbidden Technologies hires Ian McDonough as CEO
Forbidden Technologies plc (AIM: FBT) is pleased to announce that Ian McDonough will join the Company as Chief Executive Officer on 1 September 2017. Ian will join the Company’s Board immediately.
Ian brings considerable knowledge and experience and a track record of delivering growth and value, particularly in the global media sector. Most recently Ian was Senior Vice President and Managing Director for Turner (formerly Turner Broadcasting) covering the UK, Ireland, Nordic and Baltic countries. Prior to that, from 2009 to 2014, he was with BBC Worldwide and became Executive Vice President and General Manager for one of their seven global regions. Ian’s previous experience also included working for A&E Networks Europe and Viacom Asia.
Chairman of Forbidden, David Main, said: “We are delighted that Ian is joining the Board of Forbidden as the Company’s CEO to lead the team at this key point in time for the business. As well as great media experience and knowledge, Ian brings energy, a strong track record of commercial innovation and a clear ability to drive the performance of a business. Ian will fill the CEO gap we have had in the business since February.”
Ian McDonough said: “I am very excited to be joining Forbidden Technologies. Media consumption and viewing habits are going through dramatic change and it is critical that cloud based video production and editing capabilities are added to existing media supply chains. This is precisely where Forbidden Technologies with its lead product Forscene is focused. The Company is well positioned for growth in this evolving market as the immediacy of video becomes ever more important to consumers. I look forward to helping drive the business to great success.”
Ian McDonough, aged 45, has held the following directorships or partnerships in the past five years:
Parmain Builders TopCo Limited
Parmain Builders Ltd
G.R.S. (Contractors) Ltd
Inkk Assets Limited
TBS Norway AS
Covert Pictures Limited
Inkk Property Ltd
Inkk Developments Limited
TBS Denmark APS
Millenium Media Group AB
Turner Nordic & Baltic AB
Non Stop Entertainment AB
Non Stop Sales AB
On 28 March 2017, TBS Norway AS, a Company of which Ian McDonough is a director, began liquidation proceedings and the board was suspended and a liquidator appointed. The winding up resolution was passed on 20 July 2017. The liquidation process will be completed very shortly after which time the company will formally be dissolved. The company is currently not trading and is covered by an indemnity policy.
There is no further information to be disclosed pursuant to Schedule 2(g) of the AIM Rules for Companies.
Forbidden Technologies plc
Tel: +44 (0)20 8879 7245
David Main, Chairman
Jonathan Lees, Chief Financial Officer
Allenby Capital Limited (Nominated Adviser and Broker)
Tel: +44 (0)20 3328 5656
Redleaf Communications (Financial PR Adviser)
Tel: +44 (0)20 7382 4730
David Ison Email: email@example.com
About Forbidden Technologies plc
Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.
The Company develops, markets and licenses a powerful cloud video platform, with multiple applications, which can be used by rights holders, broadcasters, sports and news video specialists, post-production houses, other mass market digital video channels, corporates and consumers. The platform helps provide customers visibility on all their content and more effectively monetise their content, including improving their time to market for live digital content such as clips and highlights packages for social media.