TIDMFAN
RNS Number : 0558Y
First Artist Corporation PLC
16 December 2010
First Artist Corporation Plc
("First Artist" or the "Company")
Board Changes
Pursuant to the announcements made on 08 December and 10
December 2010, First Artist Corporation plc (AIM:FAN), the media,
events and entertainment management group, today announces the
following changes to the Board of Directors.
David Stoller, Jeremy Barbera and Shirley Stapleton will join
the Board with immediate effect fulfilling the respective
appointments of Executive Chairman, Chief Executive Officer and
Finance Director.
David Stoller - Executive Chairman
David Cary Stoller, aged 60, will join First Artist as Executive
Chairman with immediate effect.
The Stoller family has had a significant involvement in the arts
as investors, performers, organizers and promoters for over 30
years. Mr. Stoller has been Chairman and CEO of Transload America
Inc. since 2003.
Mr. Stoller began his professional career as an attorney in
1982. He was a partner and co-head of global project finance for
Milbank, Tweed, Hadley & McCloy, LLP where he helped build one
of the world's largest and most successful project finance
practices, participating personally in financings totalling more
than $4 billion. At the end of 1992, Mr. Stoller joined
Charterhouse Group International, a large New York City-based
private equity firm, as Chairman of its Environmental Capital
Group. In 1993, Mr. Stoller, through the Charterhouse Environmental
Capital Group, launched American Disposal Services, an integrated
waste management company that ultimately acquired and consolidated,
with $34mm in equity capital, more than 80 waste management
companies. American Disposal had a successful IPO in July 1996 and
was sold in 1998 to Allied Waste at a price exceeding $1.1 billion.
In August of 1998, Mr. Stoller left Charterhouse to launch
Americana Financial Services, raising over $40mm in private equity
capital. Americana (now the American Wholesale Insurance Group) is
currently among the largest private wholesale insurance brokerage
in the United States. Mr. Stoller holds a B.A. from the University
of Pennsylvania, an MA from the Graduate Faculty of the New School
for Social Research and a J.D. from Fordham University School of
Law. He is also a graduate of the Harvard Business School Advanced
Management Program.
Jeremy Barbera - Chief Executive Officer
James Jeremy Barbera, aged, 54, will join First Artist as Chief
Executive Officer with immediate effect.
Mr. Barbera has been Chairman of the Board and Chief Executive
of MSGI and its predecessor businesses since he founded MSGI Direct
as an Entertainment Marketing company in 1987.
Mr. Barbera pioneered the practice of database marketing for the
live entertainment industry in the 1980's, achieving nearly one
hundred percent market share in New York. Under his leadership,
MSGI, through their Pegasus Internet subsidiary, originated the
business of web-based ticketing in 1995 and became the dominant
services provider in every major entertainment market in America.
Their principal areas of concentration also included: financial
services, fundraising and publishing.
General Electric became the largest client and shareholder of
MSGI in 1998 and remained in that dual role for five years. Other
major clients included: American Express, Walt Disney Company,
Clear Channel Communications, Carnegie Hall and every single
theater on Broadway. By 1999, MSGI had generated annual revenues of
$250 million with a market capitalization well in excess of $1.5
billion. MSGI was named one of the 50 fastest growing public
companies in both 2001 and 2002 by Crains New York Business. In
April 2004, Mr. Barbera completed the divestiture of the MSGI
legacy businesses and re-birthed the company in the homeland
security and counterterrorism industry as MSGI Security Solutions.
Prior to founding MSGI Direct, Mr. Barbera was a research scientist
based at NASA/Goddard Space Flight Center, working on such
groundbreaking missions as Pioneer Venus and the Global Atmospheric
Research Program. Mr. Barbera has more than 20 years of experience
in the areas of entertainment, technology, software, marketing and
analytics. Mr. Barbera is a Physicist educated at New York
University and Massachusetts Institute of Technology.
Shirley Stapleton - Finance Director
Shirley Rosalie Stapleton (previously Dean), aged 57, will join
First Artist as Finance Director with immediate effect.
Ms. Stapleton is a Chartered Accountant (New Zealand qualified)
and has held a variety of finance roles, principally in connection
with the airline industry. Previous roles include, Head of
Procurement at Gate Gourmet, Head of Programme Delivery Procurement
at British Airways Plc and Corporate Development Manager at Air
Zealand. Ms. Stapleton has been fulfilling the role of Finance
Director at First Artist since April 2010.
Directorships
In addition to their directorship of the Company, David Stoller,
Jeremy Barbera and Shirley Stapleton hold or have held the
following directorships, and are or were a member of the following
partnerships, over or within the past five years:
Director Current Former
Directorships/Partnerships Directorships/Partnerships
in the last five years
David Cary Stoller Artspan LLC Nil
Stoller Family Partners
LP
Transload America
Inc
MSGI Security Solutions,
Inc.
Pivot Entertainment
LLC
James Jeremy MSGI Security Solutions Nil
Barbera Inc
Pivot Entertainment
LLC
Shirley Rosalie Strawberry Hill Associates Nil
Stapleton Ltd
Directors Holdings
As at the date of this announcement, David Stoller and Jeremy
Barbera have a beneficial interest over 9,900,000 Ordinary Shares,
representing 24.8 per cent. of the issued share capital of the
Company. This holding is held by Pivot Entertainment LLC, a Company
controlled by Mr. Stoller and Mr. Barbera and their respective
families.
In addition, David Stoller has a beneficial interest over
2,000,000 Ordinary Shares, representing 5.0 per cent. of the issued
share capital of the Company. This holding is held by Stoller
Family Partners LP, a Company of which Mr. Stoller is a
Partner.
The combined interest of Pivot Entertainment LLC and Stoller
Family Partners LP is 11,900,000 Ordinary Shares representing 29.86
per cent. of the issued share capital of the Company.
Shirley Stapleton does not hold any Ordinary Shares in the
Company.
Resignation
David Noble has resigned as Non-Executive Director with
immediate effect. The Company is in discussions with suitable
candidates to join the Board as Non-Executive Director. A further
announcement will be made when appropriate.
Jeremy Barbera, Chief Executive Officer of First Artist
commented, "Having spent a lifetime in the media and entertainment
industry, I am particularly excited to lead the businesses of First
Artist which enjoy a legacy of success on both sides of the
Atlantic. David Stoller and I look forward to strengthening and
growing First Artist whilst taking the business into additional
territories of what has become a global marketplace".
Jon Smith, Executive Vice-Chairman of First Artist commented,
"It has been an honor and privilege to be at the helm of First
Artist for so many years. Since I started the company from my
living room in 1986 it has grown to become a global brand in both
sport and entertainment. I am delighted to now hand the reigns over
to David Stoller and Jeremy Barbera, two unique luminaries of the
entertainment and media worlds. I look forward to supporting the
further evolution of the business under their care and feel
confident that the future for our shareholders and staff will be
very positive. I would also like to add my thanks to everybody who
has helped make my own journey so rewarding."
Enquiries:
First Artist Corporation Plc
Jeremy Barbera/David Stoller
Jon Smith/ Shirley Stapleton Tel: +44 20 79930000
Seymour Pierce Limited
Stewart Dickson / Tom Sheldon Tel: +44 20 71078000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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