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Blur Appoints Stephen Harvey As CFO(Alliance News Via Acquire Media NewsEdge) LONDON (Alliance News) - Blur Group PLC said Tuesday that it has appointed Stephen Harvey as the group's Chief Financial Officer with immediate effect. Harvey will be based at Blur's headquarters in Exeter and it is intended that he will be invited to join the main board "in due course," said the company. Harvey has more than 20 years' experience in the software sector, and served as CFO of Microsoft UK until 2004 when he left to become CFO of messaging company Acision, following its spin out from Logica PLC. He has spent the last three years working as a CFO internationally in Europe, Africa and the Middle East. Barbara Spurrier, who has acted as chief financial officer since February 2014, will revert to her previous role as Director Financial Reporting and will be supporting Harvey, said the company. Upon his appointment, Harvey has been granted 400,000 options over ordinary shares of 1 pence each in the company. These options become exercisable after a period of four years from the date of grant pursuant to the rules of Blur's share option plan. The options have an exercise price of 84.5 pence per share, being the closing mid-market price of the company's ordinary shares as at September 15, 2014. Last week the company reiterated its focus on reaching profitability, despite posting a wider pretax loss for the half-year to the end of June; the company posted a pretax loss of USD4.8 million, widened from USD2.3 million, despite seeing revenue rise to USD5.7 million from USD1.4 million, due to higher administrative expenses. Blur said its current trading was meeting its growth expectations, with a positive performance across all of its key indicators, and a growing pipeline. Shares in the company were trading 0.19% higher at 84.66 pence per share shortly after the market open Tuesday. Copyright 2014 Alliance News Limited. All Rights Reserved. |