Norwich technology business Proxama appoints interim chief executive
The chief financial officer of Proxama, the mobile phone technology business, will take over as the chief executive in the short term
The company announced that John Kennedy will perform the dual role after founder and former chief executive Neil Garner stepped aside in May to focus on developing new products for the business.
Proxama, which produces platforms on mobile phones so people can make contactless payments or receive business marketing information, employs upwards of 100 people at St James Mill in Whitefriars.
In its preliminary results to the year ending December 31 2014, revenue and income remained broadly flat at £0.8m, with an EBITDA loss of £5.6m, compared to £3.1m in 2013, and a cash balance of £5.5m
David Bailey, chairman of Proxama, said: 'As a board we are very pleased that John has stepped in to take on the CEO role during what is a very important period for the Company when both the proximity marketing and payment divisions are securing new commercial contracts.
'John and the executive team have had a positive influence on the business since the turn of the year, particularly in driving the process of integration and commercialisation of our products across the business. John's appointment is a natural extension of the activity he has already been undertaking.'