SITO MOBILE, LTD. (NASDAQ:SITO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Principal Officers; Election
of Directors; Appointment of Principal Officers.
Effective February 17, 2017, Jerry Hug resigned as CEO and a
director of SITO Mobile, Ltd. (the Company). Also effective
February 17, 2017, Richard OConnell, Jr. was appointed to serve
as Interim CEO. Mr. OConnell has been a member of the Companys
Board of Directors since February 2016.
From 2010 to May 2016, Mr. OConnell served as the Chief Financial
Officer and Chief Credit Officer of Emergent Capital, Inc., a
NYSE-listed specialty-finance business that primarily invests in
life settlements. From 2006 until 2009, Mr. OConnell served as
the Chief Financial Officer of RapidAdvance, LLC, and from 2002
until 2005 he served as the Chief Operating Officer of Insurent
Agency Corporation. From 2000 until 2001, Mr. O’Connell acted as
Securitization Consultant to the Industrial Bank of Japan, and
from 1999 until 2000, he served as President of Telomere Capital,
LLC. From 1988 until 1998, Mr. OConnell served in various senior
capacities at Enhance Financial Services and its subsidiary,
Singer Asset Finance Company, including President and Chief
Operating Officer of Singer Asset Finance and Senior Vice
President and Treasurer of Enhance Financial Services. Mr.
OConnell received a B.A. from Franklin and Marshall College and
an M.B.A. from Rutgers University Graduate School of Management.
About SITO MOBILE, LTD. (NASDAQ:SITO)
SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization. Geo-fencing targets customers within a certain radius of location and uses technology to push coupons, advertisements and promotions to mobile applications. Verified Walk-in tracks foot-traffic to locations and which advertisements drive action. Behavioral Targeting tracks past behaviors over 30 to 90 day increments allowing for real-time campaign management. Analytics and Optimization is a culling and building measurement system. SITO Mobile Messaging is a platform for building and controlling programs, including messaging and customer incentive programs. SITO MOBILE, LTD. (NASDAQ:SITO) Recent Trading Information
SITO MOBILE, LTD. (NASDAQ:SITO) closed its last trading session up +0.08 at 2.29 with 20,886 shares trading hands.
