Bango (AIM: BGO), the mobile commerce company, today announces that David Sear has stepped down from the Board after nine years as Chair, in line with corporate governance best practice. David has served as Chair since February 2011, a period during which Bango has built its market-leading position in app store payments and data monetization.
Bango announces directorate change
Ray Anderson, currently Chief Executive Officer of Bango, is succeeding David to become Executive Chair of Bango. In this role, Ray will increase his focus on growing the early stage data monetization activities of Bango Marketplace and the Audiens business. Ray will also continue to develop strategic partnerships with large global partners in Asia and the USA to maximize long-term commercial opportunities for Bango and its customers.
Paul Larbey joins the Bango board as Chief Executive Officer. Paul joined Bango as Chief Operating Officer in March 2019. Before Bango, Paul led the Video Division in Nokia following its acquisition of Cambridge, UK based Velocix. Paul grew Velocix from a video technology innovator into the world’s leading IP video streaming specialist delivering critical services for the world’s leading Pay TV operators. As CEO, Paul will lead the Bango team as it continues to capitalize on the significant growth opportunity from the Bango Platform and data monetization.
David Sear, commented: “It has been an enormous pleasure serving Bango, its investors and partners as Chair for more than nine years. Bango has an exceptional Board, including the three Non-Executive Directors that joined during 2019, who will support the executive team as it continues to deliver this impressive growth”.
Ray Anderson, commented: “I would like to thank David for the contribution he has made to Bango as board Chair. His guidance and insights have been invaluable as Bango has grown. I am also delighted to welcome Paul as the new CEO of Bango. Paul has rapidly embraced the strategy and culture of Bango and, as Chief Operating Officer, has delivered excellent progress in 2019. As CEO, Paul will provide strong and effective leadership as we scale-up the business to meet the goals of our customers and partners.”
Paul Larbey, commented: “I am incredibly excited by the opportunity to lead this highly talented Bango team. Many of the world’s most successful businesses rely on the Bango Platform to power their growth. I will continue to lead the first-class execution of the successful Bango strategy”.
Eric Peacock takes on the position of Senior Independent Director on the board of Bango, overseeing corporate governance. He also heads-up the Nominations Committee, which monitors and oversees board performance.
Sir Eric Peacock, Senior Independent Director and Chair of the Bango Nominations Committee commented: “The combination of smart, experienced Non-Executive Directors, an industry renowned Executive Chair and a seasoned, growth-oriented CEO gives Bango strong leadership together with effective governance – a winning combination for shareholders and customers” .
The Bango executive team will update investors and analysts on the market opportunity and strategy for the business at the annual Bango Strategy and Capital Markets Day in London on 29 January 2020.
App developers, stores and payment providers cross the threshold into the Bango ecosystem to converge, grow and thrive.