CXN strengthens Board and Senior Management Team todrive...

CXN strengthens Board and Senior Management Team to
drive growth
Sydney, Australia, 28 January 2010: Connxion Ventures Limited (ASX: CXN) today
announced that it has strengthened its Board and senior management team in
order to meet the demands of several upcoming material contracts and to establish
CXN as a leading data, networks, payments and rewards business to achieve its
previously stated goal of generating annualised revenue of $100 million within
three years.
Mr. Rod Olsen will assume the role of Non-Executive Chairman, replacing Ian Smith
who will continue as an Independent Non-Executive Director.
Bill Brooks, the current General Manager of Connxion Networks, has been
appointed Managing Director of Connxion Ventures, further enhancing the day to
day management of the company. Mr. Andrew Phillips, who is currently Chief
Financial Officer of Connxion Networks, has been appointed Finance Director of
Connxion Ventures. David McCann will continue to act as an Executive Director
and FCP shareholder representative; he will be instrumental in the ongoing growth
and development of the company. Warren Riddell has resigned as Executive
Director.
Baden Wright, former Director of Sonnet, has been appointed Director of Strategy
and Technology of Connxion Networks. Cha Loh has been appointed General
Manager of Connxion Networks in Australia whilst Glen Grosic has been appointed
General Manager of Connxion Networks in Greater China.
Mr. Olsen said todays announcement reflects the completion of the restructuring
initiatives of the current CXN business. The Board has acted decisively and is
confident that we now have the right mix of skills at both the Board and
management level to deliver sustainable revenue and earnings growth.
CXN today is very different to six months ago. We now have the strategy, the team
and the geographical presence in place to deliver significant revenue growth in the
current financial year and into FY2011. In addition, our customers are starting to
recognise the value of our integrated services offering.
CXN is focused on becoming a leading data, networks, payments and rewards
business. There is a well defined strategy in place to grow these services and
deliver an integrated and seamless offering to our customers.
CXN will update its shareholders in the coming weeks on a number of
developments that it has under active consideration that will enhance the
companys organic growth.
Board
Rod Olsen Non-Executive Chairman, Connxion Ventures
20+ years experience in the telecommunications industry. Former board and
chairman positions with Cable & Wireless, Optus and Standard & Charter
Bank.
Ian Smith Independent, Non-Executive Director, Connxion Ventures
20+ years CEO experience including Yahoo!7, Communications Group Ltd,
President International for Bates Worldwide, currently chairman of Engine
Ltd and Prime Digital Media.
Andrew Phillips Finance Director, Connxion Ventures
Previously Group Financial Controller for Aristocrat, Executive Director for
Recovre (a former division of Allianz Insurance), CFO and Director for Hoya.
David McCann Executive Director, Connxion Ventures
CEO of First Capital Advisors and shareholder representative for First
Capital Partners.
Management
Bill Brooks Managing Director, Connxion Ventures
20+ years experience with Fortune 500 public and private companies,
including Barclays (UK), HSBC, Telstra and China Mobile.
Baden Wright Director of Strategy and Technology, Connxion Networks
15+ years experience in IT and data related services industry. Successful
track record of implementing turn-around strategies and leveraging IT to
enhance customer efficiency. Held senior role in Telstra.
Cha Loh General Manager of Connxion Networks (Australia)
25+ years experience in the IT sector with companies including Telstra,
Compaq, Price WaterhouseCoopers, previously General Manager of Sonnet
Corporation.
Glen Grosic General Manager of Connxion Networks (Greater China PRC)
15+ years experience in the loyalty, rewards and data marketing in Asia,
currently based in Shanghai.
Philippe Burgess Financial Controller, Connxion Networks
Chartered accountant with 16 years experience in public and commercial
roles. Held senior finance roles with several large listed multinational
groups in Australia and the UK.
Catherine Reynolds Chief Marketing Officer, Connxion Networks
20+ years experience in complex strategy, product and service development
and implementation with Fortune 500 companies including Price
WaterhouseCoopers, Lend Lease, Microsoft and IBM.
Connxion Ventures Strategy Investing in Data & Transaction Networks
Connxion Ventures invests in data businesses and networks. Connxion
Ventures provides capital macro management and resources to build
and expand these networks across Australia, Asia and China.
Connection Ventures will continue to identify and acquire investments
that can achieve shareholder growth in these industries and markets.
Connxion Networks Strategy Data Management& Services
Connxion Networks the core operating company of Connxion Ventures.
Connxion Networks strategy is to develop a full end-to-end data and
transaction services solutions company that will meet the needs of its
expanding client portfolio. Connxion Networks will build out its
services and industry solutions platform and regional delivery
capabilities as a core part of its objective.
For further information email