ADMA dealt another blow with new AADL CEO ordered to pay $1 million for ‘misleading and deceptive conduct'

Matters resulting from share sale back in 2015

The new CEO of the Australian Alliance for Data Leadership (AADL), Stephen Porges, has been ordered to pay almost $1 million by the NSW Supreme Court for ‘misleading and deceptive conduct’.

Porges has been ordered to pay $941,703 in damages and interest, and potentially costs, to Adcock Private Equity (APE) after his actions in selling shares in a tech startup, SecureOne, in 2015.

According to NSW Supreme Court documents, ‘Porges’ misleading or deceptive conduct in respect of the Profit and Reluctant Seller Representations was a cause of APE’s decision to buy the shares in question from Mr Porges’.

Porges sold the shares to APE, however, SecureOne was undergoing damaging litigation at the time, and has subsequently collapsed.

The court said: ‘It is common ground that the shares in SecureOne are worthless. It follows, subject to questions of mitigation, contributory negligence and proportionate liability, that APE is entitled to recover the full amount paid, AUD $941,703.38, from Mr Porges, together with interest from the dates of payment of the constituent amounts.’

The AADL is the parent company of the Association for Data-driven Marketing and Advertising (ADMA), and this is another blow for the beleaguered organisation.

Porges' appointment followed the departure of ADMA CEO and inaugural chief of the AADL, Jodie Sangster, after seven years at the helm. Ben Sharp was then appointed managing director of ADMA in April, but resigned after only two weeks.

Last month, AADL confirmed Andrea Martens as CEO of ADMA plus the Digital + Technology Collective.

The AADL, which sits across both associations as well as IAPA and Data Governance Australia (DGA), confirmed Marten’s role as one of three appointments to its executive team, including Richard Bean, former acting chairman of the Australian Communications and Media Authority (ACMA) as chair of DGA, along with Anthony Hollis, most recently the VP of Australasia for distracted driving solutions company, Katasi, who steps in as DGA’s managing director.

AADL declined to provide comment.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu  

 

 

 

 

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Does your brand need a personality review?

There are five tell-tale signs your brand needs to take a long hard look at itself.

Charlie Rose

Senior Strategy Consultant, Principals

How to create profitable pricing

How do we price goods and services? As business leaders, we have asked ourselves this question since the history of trading.

Lee Naylor

Managing partner, The Leading Edge

Sport and sponsorship: The value of event sponsorship

Australia’s cricketers captured the nation’s attention during their recent run to the semi-final of the ICC Men’s World Cup. While the tournament ultimately ended in defeat, for over a month it provoked a sense of belonging, hope and empowerment for millions of people across Australia. Cricket, and sport in general, has a near-unique ability to empower individuals, irrelevant of their background, demographic or nationality.

Nikhil Arora

Vice-president and managing director, GoDaddy India

Thank you, so do I.

David Freeman

Sustainability of message: H2coco founder's commitment to consumers

Read more

Hi Harry, thank you for pointing this out I can confidently say both these bottles are in transition away from PET as we continue to impr...

David Freeman

Sustainability of message: H2coco founder's commitment to consumers

Read more

I’m confused. He has a giant 2l hard plastic bottle in Coles and his pink bottle is also in plastic??

Harry

Sustainability of message: H2coco founder's commitment to consumers

Read more

Great message from an Aussie company about sustainable business practices, particularly packaging. Wish more businesses would think more ...

Krisy

Sustainability of message: H2coco founder's commitment to consumers

Read more

Well, I wish we could change the situation. But I am not sure it's possible.

Patricia Miller

Does social media make astroturfing acceptable?

Read more

Latest Podcast

More podcasts

Sign in