Connexion Media Announces Long-Term shareholder, Mr Mark Caruso, Joins Board

Connexion Media Limited (ASX:CXZ), an innovator in the connected car market, is today announcing that long-term shareholder, Mr Mark Caruso, has joined the Board as Non-Executive Director. In addition, the Company has promoted CEO George Parthimos to the Board role of Executive Chairman, with Chief Marketing Officer and Head of USA Operations, Junior Barrett, stepping into the management role of CEO.

KEY TAKEAWAYS:

• Streamlining of Board and Management to facilitate the Company’s US growth objectives.
• Long-term shareholder and high-profile executive, Mr Mark Caruso, has joined the Board as NonExecutive Director.
• Connexion Media CEO, George Parthimos, has stepped up to the role of Executive Chairman.
• Chief Marketing Officer and Head of USA Operations, Junior Barrett, has been appointed as CEO.
• Current Directors John Conomos and John Dimitropoulos have both voluntarily stepped down from the Board.

Appointment of Mark Caruso as Non-Executive Director

Mr Caruso is a successful executive and entrepreneur with a strong, transferrable business acumen. He has substantial corporate experience driving growth and creating value in small companies. Previously, Mr Caruso was the Chairman of Allied Gold Mining PLC (AGMP) and was responsible for the delivery of the Gold Ridge Project in the Solomon Island and the Simberi Gold Project in Papua New Guinea.

Mr Caruso is also the Executive Chairman of ASX listed Mineral Commodities Ltd and a Non-Executive Director of Perpetual Resources Limited.

As Non-Executive Director, Mr Caruso will focus on driving the growth of the Company’s telematics products in its key geographic markets whilst monitoring and managing the cost activity of the business.

Commenting on joining the Board of Connexion Media, Mr Caruso said:

“Connexion has the most innovative connected car products on the market. This is why I’ve been a long-term supporter of the business. At heart, I’m an entrepreneur and its exceptionally compelling to see how well Connexion’s telematics products match up with the automotive industry’s connected car needs. This is the opportunity that we are focused on and determined to generate significant revenues from.”

Appointment of George Parthimos as Executive Chairman

Company CEO, George Parthimos, has been appointed as Executive Chairman. Mr Parthimos founded Connexion Media and has held the role of CEO of Connexion Media since August 2014.

Appointment of Junior Barrett as CEO

Connexion Media’s Chief Marketing Officer and Head of USA Operations, Junior Barrett, has been appointed as CEO of Connexion Media. Mr Barrett will continue to be based in Detroit, USA and will be responsible for leading the Company’s corporate and growth strategy in the key geographic markets of North America and Europe. His key priority will be growing sales of the Company’s telematics products.

Junior Barrett, CEO of Connexion Media, said:

“I am looking forward to taking up the role of CEO at this very important time in our Company’s journey. With the US market being a key strategic priority of Connexion Media, I will be enacting a clear strategy to substantially ramp up sales of our telematics products across North America and Europe.”

George Parthimos, Executive Chairman of Connexion Media, said:

“On behalf of the Company, I would like to congratulate Junior Barrett on his promotion to Chief Executive Officer. Junior has been a substantial addition to Connexion Media and I am confident that he will play a key role in Connexion’s transformation as telematics sales continue to pick up across the globe and especially in North America and Europe. “I would also like to thank John Conomos, John Dimitropoulos and George Karafotias for their contributions to the Company. We have benefitted enormously from their hard work and experience over the last few years.”

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