– UK, London – Elephant Talk Communications Corp. (NYSE MKT: ETAK), a leading international provider of proprietary Software Defined Network Architecture (Software DNA(TM)) platforms and a market leader in providing cyber security solutions to counter electronic fraud in the cloud, today announced that, following an extensive search, it has appointed Mr. Paul Burmester to serve as Chief Executive Officer of the ValidSoft. Mr. Burmester will take over for Mr. Pat Carroll, the founding CEO of ValidSoft, who will assume the role of Executive Chairman, succeeding Mr. Phil Hickman, who for a period of time doubled as Executive Chairman of ValidSoft and a member of the Board of Directors of Elephant Talk.
Mr. Burmester brings with him a wealth of experience in successfully developing companies for mainstream commercial success. He has to date been a driving force in growing six previous early stage technology companies through to global market recognition and successful exits. He has been an effective senior executive with extensive general management, sales, marketing, operations and business development experience in the international high-technology environment. Mr. Burmester has an excellent track record in developing and leading companies and teams in the IT, Multimedia, Telecom and Wireless industries. He is experienced in building small and medium businesses, pre and post IPO stage, managing change within corporations of all sizes and defining and implementing strategies to achieve and exceed planned growth and establishes market leadership and increased shareholder value.
“The Board set high standards in selecting ValidSoft’s next CEO,” said Steven van der Velden, Chairman of the Board and CEO of Elephant Talk Communications Corp. “Paul brings to ValidSoft an outstanding record of success in developing emerging technology growth companies through to successful mainstream market recognition. We are pleased to have an executive of Paul’s ability to lead ValidSoft through the company’s next stage of monetization. Pat Carroll has done a superb job of developing innovative product sets that have been integrated with several leadings banks and established a relationship with FICO. Now Paul’s expertise will enable us to accelerate the commercial success of those products. The Board of Directors is deeply grateful to Pat and we look forward to his continued contribution to ValidSoft in his new capacity as Executive Chairman. He will continue to drive the vision of ValidSoft, focus on product development, look for new strategic partnerships, while serving as an industry expert in the security and fraud arena where his vision and expertise is globally recognized.”
Pat Carroll said, “I am delighted to welcome Paul Burmester as our new CEO and believe he has the ideal skill-set to lead our Company through the next phase of commercialization. We are proud of the best in class technology that we have created over the past few years, with a brand name that resonates globally as a leader and trusted advisor in addressing sophisticated fraud and authentication issues with our clients and partners.”
ValidSoft Limited has been a wholly owned subsidiary of Elephant Talk Communications since early 2010 and underpins its mobile/cloud security offering. The Company is a market leader in providing solutions to counter electronic fraud and safeguarding consumer privacy relating to a variety of bank, card, internet and telephone channels. ValidSoft’s solutions are used to verify the authenticity of both parties to a transaction (Mutual Authentication), the security of the relevant telecommunication channel used (Secure Communications), and the integrity of transactions itself (Transaction Verification) for the mass market, in a highly cost effective and secure manner while being very easy to use. The Company counts several leading worldwide service providers and institutions amongst its customers. ValidSoft is the only security software company in the world that has been granted three European Privacy Seals.
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