Phorm chief executive steps down

Phorm uses browsing information to serve targeted advertisements

Controversial targeted advertising firm Phorm has announced several changes to its executive management team, including the resignation of UK chief executive Hugo Drayton.

The stepping down is by mutual agreement, according to the company, and Drayton will leave at the end of 2008, although he will remain as an advisor.

"My time with Phorm has been exciting and rewarding. Whilst I am looking forward to exploring new challenges in the fast-evolving media world, I am delighted that I will continue to contribute to the dynamic, industry-changing future of Phorm," he said.

"I am very happy with the progress we've made in recent months with our ISP partners and our advertising and publishing clients."

Nan Richards has been appointed deputy chief executive officer based in London, working with chief executive Kent Ertugrul to ensure that Phorm's Open Internet Exchange is commercially deployed next year.

Richards was previously president of Turner Broadcasting System Europe, a division of Time Warner, where she spent 20 years working on well known broadcast brands including CNN, Cartoon Network and TCM.

Other changes include Andrew Croxson, who has been appointed global chief financial officer on an interim basis, replacing Lynne Millar who has resigned as UK chief financial officer. Croxson is an ACA qualified chartered accountant and joins from the analyst firm Ingenious Consulting.

Nick Barnett, currently commercial director for Phorm UK, is being promoted to the newly created role of UK managing director based in London, where he will be responsible for the UK business working with ISPs on the trial and deployment of Phorm.

He will also be in charge of managing the company's commercial relationships with advertisers, publishers and ad networks.

"I'd like to welcome Nan, Andrew and Nick to their new roles," said Kent Ertugrul, chief executive of Phorm.

"I thank both Hugo and Lynne for their significant contributions and wish them well in their future endeavours. They have helped lay the foundations for a successful commercial launch in the UK and beyond. I am delighted that Hugo will build on his previous achievements with Phorm as an advisor."

Despite the controversy surrounding Phorm over privacy concerns, BT announced earlier this week that it is to go ahead with a widescale deployment following the conclusion of a trial period.