The board stays without two directors
The latest news from Media Corporation plc are that Jason Drummond and Stephen Pettman have departed the board of directors, and that Justin Drummond has been appointed executive chairman to replace Jason Drummond at the agm
According to the new executive chairman, "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."
It appears that Jason Drummond decided to leave the company in order to "focus on his other business interests."
It has been added by Justin Drummond: "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."