Linius Technologies Limited (ASX:LNU) Appoints New CEO
Linius Technologies Limited (ASX: LNU) has appointed Ben Taverner as its new Chief Executive Officer, effective 1 February 2025. Taverner joins the company with over 20 years of experience in sports technology and a proven track record in managing revenue growth.
Executive Comments
Gerard Bongiorno, Non-Executive Chairman of Linius, expressed enthusiasm regarding Taverner’s appointment. He stated, “Ben has extensive experience in the sports and entertainment industry with an exceptional global network… He has the skills and experience to lead the company as we aim to dramatically build market share with our products.”
James Brennan, the current CEO, will step down from the Board immediately but will assist Taverner during the transition. Joe Rinarelli, the current CFO, has been appointed to the Board on an interim basis.
Appointment Details
Taverner has committed to subscribing for $50,000 worth of Linius convertible notes. These notes come with a face value of $1.00 each and a 20% annual coupon. They will mature in 24 months, with details previously announced on ASX.
Taverner’s contract includes a remuneration package of £175,000 per annum, along with performance-related bonuses and share options, contingent upon achieving specific milestones related to share price.
This announcement has been sanctioned for release by the Linius board, underlining the company’s ongoing development and leadership transition as it seeks to enhance its innovative video solutions in the marketplace.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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