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DIRECTORATE CHANGES AT MEDIACORP
02/16/2012 : Two directors leave the board, and Justin Drummond takes over the chair
Jason Drummond and Stephen Pettman have departed the board of directors at Media Corporation plc, the AIM quoted advertising network and online gaming group, which recently signed an agreement to provide online gambling content to the revamped Hippodrome Casino in London .
Justin Drummond, who was appointed executive chairman to replace Jason Drummond at the agm, commented: "I am pleased with the way 2012 has started for Media Corp. At the end of January we announced a joint venture with the soon to be launched Hippodrome Casino. Media Corp is to provide a suite of online gaming products for the new casino. We expect to see increased revenues and plans for the launch of Hippodrome are progressing well."
Little is known about the departure of the two directors, other than a brief comment in the Mediacorp statement thanking Drummond for his contribution and revealing that he left to "focus on his other business interests."
The new executive chairman commented: "For the avoidance of doubt, Jason's departure from the Board has nothing to do with the spurious and baseless legal claim recently issued against the company.
“As part of its restructuring, the Board has taken the decision to inject some new blood and ideas to the company with the search for a new CEO to help build on the strong growth in Eyeconomy, the Purple Lounge platform and the other exciting prospects currently in hand such as our joint venture with the Hippodrome Casino."
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