Velti Announces Resignation of Officers and Director

Jan 06, 2014, 16:10 ET from Velti plc

SAN FRANCISCO, Jan. 6, 2014 /PRNewswire/ -- Velti plc announced today that in conjunction with the completion of the sale of its mobile marketing business to GSO Capital Partners LP ("GSO"), Jeff Ross has resigned his position as chief financial officer and Phokion Potamianos has resigned his position as director of the Company. Both resignations are effective immediately.

"I would like to thank Jeff and Phokion for their valuable service to the Company," said Alex Moukas, the Company's chief executive officer.

Additionally, Mari Baker is stepping down from her role as Chief Operating Officer, and will remain as a director. There are no replacements announced at this time.

The resignations were made in connection with the January 3, 2014 closing of the sale of the majority of Velti's business to GSO, the credit division of Blackstone. The sale includes business lines previously operated by Velti Inc. and Air2Web Inc. in the U.S., Air2Web India, Velti DR Limited and Mobile Interactive Group, Ltd. in the U.K., and Velti Netherlands B.V. in the Netherlands. 

The remainder of the Company's business lines in Greece, Latin America, Russia, China, the United Arab Emirates, and other jurisdictions are continuing normal business operations. 

SOURCE Velti plc