Telecom Lead Asia: KIT digital, a video technology
and services company, will acquire a relatively small entity in the
Asia-Pacific region which provides a strong regional client roster and
cost-effective client delivery resources which can be deployed globally.
The company also announced that its chief executive
officer, Kaleil Isaza Tuzman, will take the role of chairman.
Barak Bar-Cohen, presently the company’s chief
administrative officer, will assume the role of interim CEO. However, the
company is conducting a search, both internally and externally for a permanent
CEO.
The company said that it is reducing the number of inside
directors and will have outside members of the board. The company has accepted
the resignations from the board of management members Gavin Campion, Robin
Smyth, Chris Williams, and independent director Santo Politi.
“These changes represent a flexible and prudent
approach to our future. We are grateful to Kaleil, who for many years has
demonstrated a clear and prescient vision of where the video technology
industry is heading. Kaleil has been a bold leader with a bold plan, and his
direction has led to the commercial success that KIT digital enjoys today. We
look forward to his continued contributions as chairman of the board,” said
Wayne Walker, lead independent director.
The board is now composed of non-executive chairman Isaza
Tuzman and four continuing independent directors: Wayne Walker (lead
independent director), Dan Hart, Lars Kroijer, and Joseph Mullin.
The company intends to expand the board over the coming
months with additional independent directors, and also anticipates that the
future, permanent CEO will serve as a director as well. Messrs. Campion, Smyth,
and Williams will continue in management roles at KIT.
Recently, KIT digital released a number of Social TV user experiences across the Xbox LIVE
service, including voice and motion controlled applications for UK-based
Channel 4 and Channel 5.
