Feeds

More execs quit Phorm

CFO and UK CEO out

Beginner's guide to SSL certificates

When half of Phorm's board quit earlier this month, it was spun as a strategy disagreement between the US and UK operations. But now the firm's London-based UK chief executive has quit too, along with its chief beancounter.

UK CEO Hugo Drayton will leave Phorm "by mutual agreement" at the end of this year and continue to act as an advisor, the firm told investors this morning. He was notable prior to joining Phorm for launching the "Electronic Telegraph" at Telegraph Media Group during the 1990s.

Giving his departing quote, Drayton said: "Whilst I am looking forward to exploring new challenges in the fast-evolving media world, I am delighted that I will continue to contribute to the dynamic, industry-changing future of Phorm."

Drayton's "UK CEO" title has been replaced with a "deputy CEO" role, reporting to global Phorm CEO Kent Ertugrul. The new job has been taken by Nan Richards, a former Time Warner executive.

Also off today is Lynne Millar, who has resigned as Phorm's chief financial officer. She gave no gushing farewell quote. Millar has been replaced "on an interim basis" by Andrew Croxson, a telecoms consultant.

As we've noted before, Phorm's most immediate problems are lack of revenue and rapidly dwindling cash reserves. Ertugrul said: "I am confident that we have the right talent at both the board and executive level to deliver on the huge potential of our technology and the business opportunity that lies ahead.

"I believe that we are now uniquely placed to lead the introduction of privacy-assured behavioural advertising across the whole of the internet."

BT's third trial of Phorm's system ended on December 10. It said it plans to proceed to a full rollout across its retail broadband network next year. ®

Security for virtualized datacentres

More from The Register

next story
Brit telcos warn Scots that voting Yes could lead to HEFTY bills
BT and Co: Independence vote likely to mean 'increased costs'
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Blockbuster book lays out the first 20 years of the Smartphone Wars
Symbian's David Wood bares all. Not for the faint hearted
Bonking with Apple has POUNDED mobe operators' wallets
... into submission. Weve squeals, ditches payment plans
This flashlight app requires: Your contacts list, identity, access to your camera...
Who us, dodgy? Vast majority of mobile apps fail privacy test
Apple Watch will CONQUER smartwatch world – analysts
After Applelocalypse, other wristputers will get stuck in
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.