22 September 2016
Appointment of Chief Executive
The directors of Tern plc ("Tern" or "the Company"), the specialist in the Cloud and Internet of Things ("IoT"), are delighted to announce the appointment of Al Sisto as Chief Executive of Tern, with immediate effect. Al will take direct responsibility for the day to day operations of the trading entities in which Tern is invested and Angus Forrest will continue to focus on strategy, relationships and corporate development.
Al will also continue to act as executive chairman of Device Authority Limited, Tern's major asset and a global leader in policy and device driven security for the IoT.
Angus Forrest, Executive Chairman of Tern, commented: "We are fortunate to have had the benefit of Al's expertise and input in building Tern's businesses over the past three years since his appointment as an executive director in February 2014. Al's expertise has been built running both large publicly traded companies and small startup software companies in the US and Europe. The Board believes this new position will advance and strengthen Tern's development."
Al Sisto commented: "I am delighted to take on this role and to help Tern become a leader in the Cloud and IoT revolution. I am enthusiastic about the new role and look forward to playing my part in enabling the business to deliver increasing value to our shareholders and to capitalise on our existing and new opportunities."
|Tern plc||Tel: 07973 561 232|
|WH Ireland NOMAD and Broker||Tel: 0117 945 3471|
|John Wakefield / Ed Allsopp|
|Peterhouse Corporate Finance (Joint broker)||Tel: 020 7469 0936|
|Lucy Williams / Duncan Vasey|
Tern Plc acquires and invests in privately owned companies which own IP, established products and customer bases. Its investment strategy is focused on taking an active role in its investee companies in order to improve the business model, accelerate growth, expand the business globally, and identify exit opportunities. (www.ternplc.com)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Tern Plc via Globenewswire