Feeds

More execs quit Phorm

CFO and UK CEO out

Internet Security Threat Report 2014

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. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Same old iPad? NO. The new 'soft SIMs' are BIG NEWS
AppleSIM 'ware to allow quick switch of carriers
Brits: Google, can you scrape 60k pages from web, pleeease
Hey, c'mon Choc Factory, it's our 'right to be forgotten'
Of COURSE Stephen Elop's to blame for Nokia woes, says author
'Google did have some unique propositions for Nokia'
FCC, Google cast eye over millimetre wireless
The smaller the wave, the bigger 5G's chances of success
It's even GRIMMER up North after MEGA SKY BROADBAND OUTAGE
By 'eck! Eccles cake production thrown into jeopardy
Mobile coverage on trains really is pants
You thought it was just *insert your provider here*, but now we have numbers
Don't mess with Texas ('cos it's getting Google Fiber and you're not)
A bit late, but company says 1Gbps Austin network almost ready to compete with AT&T
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.