Flamingo AI scores two new directors to sharpen focus

By Zachary Graves. Published at Apr 10, 2018, in Technology

Flamingo AI (ASX:FGO) this morning announced its appointment of two new directors to its board — Mark Kehoe and Peter Lloyd — to strengthen its focus on commercialisation.

Commencing 10 April, Kehoe and Lloyd join existing directors, Cathie Reid (chair), Bryn Hardcastle (non-executive director) and Dr Catriona Wallace (managing director).

Wallace said: “We are extremely pleased to announce the appointments of Mark Kehoe and Peter Lloyd, who join Cathie Reid, Chair, Bryn Hardcastle, Non-Executive Director and myself on the board.”

“The company was purposeful in sourcing board members with strong commercial and technology strategy skills, which Mark and Peter bring. The addition of these highly skilled and experienced directors will directly support Flamingo AI’s commercialisation strategy and focus on revenue generation.”

Kehoe joins the FGO team as an executive director and chief commercial officer (CCO). In the latter role, Kehoe will be responsible for the commercialisation of the technology, operations and business model, with a focus on revenue generation.

Kehoe has an impressive background, as one of the founders of Australian e-commerce pioneer, GraysOnline, where he spent over 16 years, mostly as executive director before the business listed in 2014. Grays Ecommerce Group was subsequently acquired by Eclipx Group (ASX:ECX). Grays employed over 400 staff in Australia and New Zealand, and in FY15 generated sales in excess of $500 million.

Kehoe said: “I’m incredibly excited to be joining Flamingo. The AI and machine learning space has been a sector I have been interested in for some time. The calibre of the senior executives and directors at Flamingo in particular impressed me, together with early indications of market acceptance both here in Australia and in the US. I look forward to helping fulfil the potential of Flamingo AI alongside Catriona, Cathie and the entire team.”

Lloyd, on the other hand, joins the board as a non-executive director. He is a highly experienced technologist and board director. Lloyd is currently a non-executive director (since 2010) with Integrated Research Limited (ASX:IRI), one of Australia’s most high profile ASX 300 technology companies with a market cap of $664 million, and of Taggle Systems Pty Ltd, a privately held technology company that utilises patented Low Power Wide Area Networking technology in the water management industry.

Lloyd said: “I am very excited by Flamingo AI and their ground-breaking Artificial Intelligence technologies. I am confident that the company is on course for rapid growth in its strategically chosen markets and feel privileged to have been invited to be part of the journey. I look forward to joining the team and making a positive contribution to Flamingo AI as it moves forward.”

FGO chair, Cathie Reid, commented: “We are very pleased to be bringing onto the board experienced directors with skill sets and proven track records in commercialising technology based businesses. This expertise will greatly assist the company in accelerating its commercialisation strategy.”

It should be noted, however, that this remains a speculative stock and investors should seek professional financial advice if considering this stock for your portfolio.

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