Differences of opinion over strategy have been cited as the main reason behind the Chairman, COO and two non-executive directors walking out on the controversial behavioural targeting technology company, Phorm.
The news was announced by Phorm in a statement. One of the employees, Stephen Heyer, the non-executive chairman, only joined the company in August.
Three non-executives have already been replaced with former chancellor of the exchequer Norman Lamont, former Ofcom chief policy partner Kip Meek and investment banker Stefan Allesch-Taylor. The CEO commented, “They bring extensive experience on government, business, regulatory matters and financial markets."As we move into the next phase of our development, the priority will be to build momentum in the rollout of our strategy."
Phorm has faced a number of hold-ups since the launch of its behavioural tracking system, the OIP (Open Internet Exchange), due to concerns it breaches the privacy of internet users, but it appeared to be on track after receiving backing from the UK Government in September (see blog posting on 22nd September '08). Watch this space for more Phorm updates when we have them.
- Sam
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