Vizrt Announces Management Changes
Ofra Brown resumes CFO Position - Martin Burkhalter appointed COO
Vizrt today announces changes to the management of the Company. Ofra Brown, having served as Vizrt's CFO for over seven years until February of this year, has agreed to return into the position of CFO with immediate effect. Paal Tønsberg, who held the position since February, is leaving the Company to assume the role of CFO in another Norwegian company.
Also with immediate effect, Martin Burkhalter, previously Chief Commercial Officer of the Company, has been appointed Chief Operating Officer (COO) with the main task to align Vizrt's financial operations, R&D, marketing & sales and logistics.
Bjarne Berg, Vizrt's CEO, commented on the management changes, "We had previously targeted an internal reorganisation of Vizrt to take effect from April 2009 with the objective to ensure the longterm growth of the Company for several years ahead. The dramatic changes of the economic climate over the past six months have led us to refocus our resources in order to deal with the current challenges.
Our top priority in the current market environment is to improve the Company's efficiency and, in particular, the operational integration of our broadcast graphics, media asset management and online operations across all our existing geographies. We will therefore put the internal restructuring process, which we started earlier this year with Ofra Brown's shift of focus on corporate development including the expansion of our international presence and infrastructure, on hold until improved market conditions allow for their implemention."
About Vizrt:
Vizrt creates leading-edge content production tools for the digital media industry - from award-winning 3D graphics & maps through integrated video workflow solutions and online publishing tools.
We propose a new vision for content creation, management and delivery with an end-to-end solution from conception to multi-format distribution. Through constant innovation and a good measure of fun, we create software and services that push creative boundaries and develop new ways of telling stories.
Vizrt's product suite is used by the world's leading broadcasters and publishing houses, including: CNN, CBS, Fox, BBC, Sky, ITN, ZDF, Star TV, Network 18, TV Today, CCTV, NHK, The Globe and Mail, The Telegraph, and Welt Online. Furthermore, many world-class production houses and corporate institutions, including both the New York and London Stock Exchanges, utilize Vizrt solutions.
Vizrt is a public company traded on the Oslo Main List, Frankfurt Prime Standard: VIZ, ISIN: IL0010838154.
Press contacts:
Bjarne Berg
President & CEO
+47 9055 7711
bberg@vizrt.com
Ofra Brown
CFO
+47 5351 8040
ofra@vizrt.com
SCHWARZ Financial Communication
Frank Schwarz
+49 611 1745 398 11
schwarz@schwarzfinancial.com