Well, where there’s smoke there’s usually fire, and where there’s a rumour, there’s often or should we say sometimes, some truth in it, but the rumour that there’s been major changes at Adspace Networks seems to have no truth in it – at least, according to Peter Krieger, executive vice-president, COO and CFO.
“We haven’t had a new investor since 2007, although we had an internal equity raise last February,” says Krieger. “There’ve been no changes at the Board level, and all our senior executives (Dominic Porco, chairman and CEO; Bill Ketcham, exec. v-p and chief marketing officer; Eric Steinert, sr. v-p business development; and myself) and Miriam Ananis, director of sales, are still in place. The last change we had was last year when our president (Jeff Jensen) left to join Hanger Network as CEO.”
Further, Krieger says that there are no plans to fill the position of president.
“We’ve consolidated as we are and there’s no need,” he says.
“Further, we’re having a great year, with revenue up significantly and are expecting a big Q4 and a successful year. We’ve automated some of our processes so things run more smoothly – for example, our Top 10 deals from retailers are now are handled electronically. And we’re expecting to increase from our current 105 malls next year, especially in the top 10 DMAs.”
So, unless there are changes afoot that no one is admitting, it looks like that rumour has no truth behind it.