– UK – As outlined previously, Tern Plc (“the Company”), the AIM-quoted investment company focussed on the fast changing IT sector, announces that it is to strengthen the Board through the appointment of two new directors with immediate effect:
Michael John Clark (aged 65) joins as a Director, is a highly experienced sales and marketing executive specialising in the software, services and consulting sector at CEO and COO level. He has worked in both public companies including IBM Inc, Anite plc and those backed by private equity namely: APP Group and Mycom International Inc.
Alastair Kerr (aged 60) joins as a Non-Executive Director, has 30 years experience of the securities markets having began his career with Hoare Govett in London, where he spent 12 years in institutional broking, rising to Partner. Subsequently, he worked at BZW, and then Salomon Brothers, where he spent five years as head of UK equity sales. Ally has been involved with alternative investments and private equity since 1997, when together with a former colleague, he co-founded Beaver Creek, a volatility arbitrage hedge fund. In 2001, he became founding Partner of Leopard Rock Capital Partners Ltd.
Angus Forrest, Chairman of Tern Plc, said: “We are delighted to welcome Michael and Ally to the Board. Both individuals have a wealth of relevant experience and we believe that they will enhance the Company’s ability to deliver on the next phase of Tern’s strategic objectives.”
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