- Mighty Kingdom’s (MKL) CEO and Managing Director Philip Mayes steps down amid a series of executive changes to the company
- South Australian based entrepreneur Shane Yeed will take up the reins, with the handover set to be finalised over the coming weeks
- The company also appoints Simon Rabbit as the new Chief Financial and Operations Officer responsible for strategic, financial and operational business functions
- Concurrently, the company is completing tranche two of its share placement following shareholder approval at its annual general meeting on November 28, 2022
- Shares in Mighty Kingdom are up 32.3 per cent, trading at 4.1 cents as of 4:15 pm AEDT
Mighty Kingdom’s (MKL) CEO and Managing Director Philip Mayes has announced he will step down amid a series of executive changes to the company.
Mr Mayes said he was incredibly proud of his time with MKL and had decided that the timing was right.
“It has been a rewarding journey as the founder and Managing Director of Mighty Kingdom and I am grateful to have been able to assume this role for the past 12 years,” Mr Mayers said.
“I remain incredibly confident about MK’s enormous growth potential and am also excited for the next chapter of my own journey.”
Shane Yeed will be taking the reins, a move which is set to be finalised over the coming weeks.
Mr Yeend is a South Australian based entrepreneur and the founder and CEO of Gamestar Interactive, which closed its first seed round at a $57.2 million valuation in November 2021.
He has over 38 years of experience in the global gaming and entertainment industries, producing interactive gaming experiences for major companies like Disney, Marvel, Lucasfilm, Sony and Mattel.
The company has also appointed Simon Rabbit as its new Chief Financial and Operations Officer. In the role he will be responsible for strategic, financial and operational business functions across both Australia and Asia.
With over 11 years of executive experience, he has worked in key leadership positions including Chief Operating Officer at Fremantle Media and Chief Business Officer at Rugby Australia.
Concurrently, the company has completed tranche two of its share placement following shareholder approval at its annual general meeting on November 28, 2022.
The company said the funds raised will be applied towards investment, driving sustainable business initiatives, entering into value accretive licensing and co-development deals, and funding new opportunities.
Shares in Mighty Kingdom were up 32.3 per cent, trading at 4.1 cents as of 4:15 pm AEDT.