
NTN Buzztime, Inc. Announces Management and Board Changes
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| Thursday, 20 November 2008 14:39 |
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CARLSBAD, Calif., November 20/PRNewswire-FirstCall/ - NTN Buzztime, Inc. (Amex: NTN) today announced the resignation of Michael Fleming as the Company's interim CEO, Board director and Chairman of the Board. The Board of Directors has established an Interim Committee of the President, initially consisting of one Board member and one member of the management team, to lead the Company's operations. The Board of Directors has also appointed recent Board addition Jeff Berg, a large NTN Buzztime shareholder and new-media entrepreneur, as Chairman of the Board. Another recent addition to the Board, Terry Bateman, an accomplished media and out-of-home (OOH) advertising executive, will serve as the Board's special advisor on the Interim Committee working to complete a strategic analysis of the business and to help guide day-to-day operations. Mr. Bateman, among other past accomplishments, has helped to develop and manage some of the industry's most successful OOH advertising networks in leadership posts with Whittle Communications and Snyder Marketing. A search committee of the current Board of Directors continues to evaluate qualified candidates for the role of permanent chief executive officer. The search committee has engaged recruiting firm DHR and its President, Steve Hayes, to lead the search. "The Company's core assets -- our products, our network of locations and our fanatically loyal audience -- along with our dedicated employee base, form the nucleus of what can be a very profitable business," commented Mr. Berg. "The current board of directors is keenly focused on reshaping the current business model to capitalize on the significant media opportunities in front of the company. The ongoing re-composition of the Board, which will continue over the balance of the year, has brought us significantly bolstered strategic skill sets and engagement levels. The current Board and executive team will provide the strategic guidance and focus necessary for the Company to better serve its business customers, the bar and restaurant industry, along with consumers and advertisers." Another recently appointed Board member, veteran hospitality executive Kenneth Keymer, has been appointed to the Audit Committee.
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