DUBAI, United Arab Emirates — November 24, 2008 KIT digital, Inc. (OTC BB: KITD), a global provider of IP-based video enablement technologies and video-centric interactive marketing solutions, has appointed KIT digital president Gavin Campion and the former vice chairman and CFO of WPP’s Grey Global Group, Inc., Steven G. Felsher, to KIT digital’s Board of Directors.
“Gavin has been a superlative partner in managing KIT digital’s growth this year, taking us from an operating loss with about $12 million in annual revenues to an estimated $35 million of EBITDA-positive annualized revenues,” said Kaleil Isaza Tuzman, chairman and chief executive office of KIT digital. “We could not have reached this point in our development without his disciplined leadership. We look forward to his ongoing operational stewardship and now welcome his guidance from a board perspective.”
“We’re also very fortunate to have Steve join our board of directors,” continued Isaza Tuzman. “His accomplishments and market knowledge are recognized industry-wide. Having worked with him directly at a previous company, I know first-hand that Steve’s intelligence and rigor will help guide us to success — particularly as we integrate recent key acquisitions and assess future strategic partnerships.”
Campion, age 36, has served as president of KIT digital since April 2008. He previously served as managing director of Sputnik Agency Pty Ltd., a leading video-centric interactive marketing agency and a subsidiary of KIT digital. Under his leadership, Sputnik won the B&T Interactive Agency of the Year award in 2007. In 1999, Campion co-founded Reality Group Pty Ltd., also a subsidiary of KIT digital, based in Melbourne, Australia, which has attracted blue-chip advertising clients like BP, Tabcorp and Saab. He has also served as chief executive officer of Shoppers Advantage, a leading Australian e-commerce company, and as a director of Presidential Card, Australia’s largest discount loyalty program. Campion received a B.A. degree with honors in marketing from Huddersfield University, United Kingdom.
Mr. Felsher, age 59, was the Vice Chairman and Chief Financial Officer-Worldwide of Grey Global Group Inc., one of the largest marketing communications firms in the world, and was responsible for its integration into WPP Group plc following WPP Group’s acquisition of Grey in March 2005. Mr. Felsher was responsible for overseeing Grey’s financial operations, investor relations, acquisitions and other corporate functions. In these and prior roles, Mr. Felsher assisted Grey in becoming one of the most respected, responsible and successful independent companies in the marketing communications industry. Mr. Felsher joined Grey in 1979 as a Vice President, became Senior Vice President in 1986 and Chief Financial Officer in 1989. He headed Grey’s Legal Affairs department from 1979 to 1989. Since 2007 when he left Grey, Mr. Felsher has worked with a number of intellectual property and marketing services companies to help them achieve their business goals. Mr. Felsher received a B.A. degree in Classical Greek from Dickinson College, was a Thomas J. Watson Fellow doing research in Greece and Turkey, and graduated from Yale Law School.
In connection with the election of these new directors, ROO Group founder Robert Petty resigned as KIT digital’s vice chairman and a member of the board.
“We thank Rob for his past work and his commitment to a smooth management transition earlier this year,” said Isaza Tuzman. “We agreed some time ago with Rob that this would be an appropriate time to part ways and wish him well in his future endeavors.”
The appointments of Campion and Felsher, together with the departure of Petty, bring the total number of board members to eight, with five serving as independent directors. The company expects Felsher to act as the lead independent director and become chairman of the audit committee.
About KIT digital
KIT digital, Inc. (OTCBB: KITD) is a leading, global provider of proprietary IP-based video enablement technologies and video-centric interactive marketing solutions. Through its end-to-end platform, KIT digital works closely with consumer brands, content providers and telcos to maximize the value of video content via the Internet, mobile networks and IPTV set-top boxes. The KIT VX platform allows clients to publish, manage and distribute digital video content, build online/mobile communities and integrate advertising. KIT offers businesses a full range of interactive marketing solutions and KIT clients can access approximately 100 KIT-syndicated channels and 40,000 KIT-syndicated videos. KIT digital clients include ABC Disney, Associated Press, China Mobile, General Motors, IMG, Kmart, NASDAQ, News Corp, RCS, Telefonica and Verizon. KIT digital has principal offices in Dubai, Melbourne (Australia), Prague, Stockholm, New York and London. For additional information, visit www.kitd.com.
This press release contains certain “forward-looking statements” related to the businesses of KIT digital, Inc. which can be identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product development and commercialization, the ability to obtain or maintain patent and other proprietary intellectual property protection, market acceptance, future capital requirements, regulatory actions or delays, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our public filings with the U.S. Securities and Exchange Commission. KIT digital, Inc. is not under obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.