SEEEN PLC on Monday named Adrian Hargrave as its new chief executive officer, as it sold a CreatorSuite licence to the Daily Mail.
Shares in the London-based social media services firm were down 17% to 10.00 pence each in London on Monday morning.
SEEEN promoted its Chief Financial Officer Adrian Hargrave to CEO, meanwhile Interim Co-CEOs Akiko Mikumo and David Anton returned to their non-executive director roles.
The company said that beyond his role as CFO, Hargrave has led the closure of several customer wins and helped develop the sales pipeline and pricing structures.
SEEN intends to appoint a new CFO in the near term, with Hargrave continuing to work with the finance team until then, the company added.
Chair Patrick DeSouza said: ‘As SEEEN has gained commercial traction during the first half of 2022 with customer wins, Go to Market partnerships and various customer deliveries of our video moments technology, Adrian has been in the middle of the process showing leadership in support of Akiko and David, our interim co-CEOs.
‘Adrian also brings the important dimension of having worked in the London financial market for most of his career and is well known to our institutional investors,’ DeSouza added.
Also, on Monday SEEEN said it has sold a CreatorSuite licence to the Daily Mail, part of the Daily Mail & General Trust PLC, for an undisclosed amount.
SEEEN said it has been working with the Daily Mail to implement CreatorSuite with its video player technology to increase advertising income and search traffic to the Daily Mail website.
SEEEN added that the contract with the ‘global publisher’ reinforces its strategic customer key performance indicator. It also said that the agreement expands CreatorSuite’s target market to advertising-focused customers.
On Wednesday, SEEEN said that it had won two further customers in the financial publishing sector which would also use CreatorSuite to drive increased views and customer conversions.
Hargrave said: ‘We are excited to begin this implementation with this leading, forward thinking global publisher, vindicating our strategy of targeting strategic customers for whom video is becoming a greater priority than ever before.’
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