3 December 2018
Maestrano Group PLC ("Maestrano" or the "Company")
Maestrano appoints Andrew Pearson CEO and Managing Director
Maestrano Group PLC (AIM: MNO), the open cloud business integration platform with cross-app data synchronization, announces the appointment of Andrew Pearson as Chief Executive Officer and Managing Director.
Stephane Ibos is stepping down as CEO, as the Company is transitioning to an execution phase that will be focused on UK and North American markets, better served from a UK base. Andrew Pearson joined as Deputy CEO in September and the board agrees is the ideal candidate for the role, with direct experience in achieving rapid scale for a Software as a Service company in the US and other markets.
Stephane will continue to serve as a Non-executive member of the Board of Directors.
Stephane Ibos commented:
"We feel that is the right time to make this important change, as the Company evolves from a start-up to a fast-scaling commercial enterprise. I am proud of the success Maestrano has achieved to date and I am very confident that Andrew will deliver on our potential, for the benefit of all stakeholders."
Andrew Pearson, CEO of Maestrano, commented:
"I am honoured to be appointed CEO and to lead the company through the next stage of its development and commercial success. I would like to thank Stephane for his support to date and going forward, as the team takes on new challenges and fulfils our promise."
Ian Buddery, Chairman of the Board, said:
"Andrew joined the Company in September 2018 and has exceeded our expectations in bringing his global execution experience to bear, as we delivered complex and time-critical projects. The Board feels that as CEO, he can build on his proven record and ensure our long-term success in the cloud software market.
I would like to recognise Stephane for not only his enormous contribution as founding CEO, but also his commitment to the best interests of all stakeholders in the business. Andrew's appointment was not only unanimously supported by the board, but also had the full and enthusiastic support of Stephane and Arnaud Lachaume, the Company's founders."
The following disclosures are made in accordance with the AIM Rules for Companies. Other than this information, there is no further information required to be disclosed under paragraph (g) of Schedule Two of the AIM Rules for Companies:
Current beneficial shareholding in the Company
CloudPay España SL
CloudPay Holdings Limited
CloudPay Holdings SA
CloudPay Philippines Inc.
CloudPay Software Service (Shanghai) Limited
CloudPay Solutions Limited
CloudPay Technology Limited
CloudPay United Kingdom Limited
Thrusters On Full Ltd
Former Directorships (previous five years)
CloudPay Asia PTE Ltd
CloudPay Holdings Inc
CloudPay Hong Kong Limited
CloudPay Italy S.r.l
CloudPay Philippines Inc.
CloudPay Solutions Inc
LightwaveRF Technology Limited
Maestrano Group plc
Ian Buddery, Chairman
Andrew Pearson, CEO
Grant Thornton (Nominated Adviser)
Colin Aaronson / Jamie Barklem
+44 (0)20 7383 5100
Arden Partners (Broker)
Ruari McGirr / Ciaran Walsh / Alex Penney
+44 (0)20 7614 5900
IFC Advisory Limited (Financial PR & IR)
Graham Herring / Miles Nolan / Zach Cohen
+44 (0)20 3934 6630
Maestrano develops and deploys a patented cloud-based Platform as a Service that serves the needs of Small to Medium Businesses (SMBs) and large Enterprises (such as major banks and global accounting firms) to access real time, automated management data efficiently on an integrated platform. This technology is called Master Data Management (MDM).
Further information on the Group is available at www.maestrano.com
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact email@example.com or visit www.rns.com.