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
Marketing that urges respondents to ‘buy now’ is a little like asking someone to marry you on your first date. At any time, only 3 per cent of the market is looking for what you’re selling, so the chances of your date randomly being ‘The One’ is pretty slim.
The prospect of deep learning gives those of us in the industry something to get really excited about, and something to be nervous about, at the same time.
In 1976 Apple launched. The business would go on to change the game, setting the bar for customer experience (CX). Seamless customer experience and intuitive designs gave customers exactly what they wanted, making other service experiences pale in comparison.
In this bonus last episode of this new podcast series, BrandHook MD, Pip Stocks, talks with former ANZ group general manager of marketing, Louise Eyres, talks about the importance of thinking like a customer and using intuition to solve customer painpoints.
Red Agency YouGov Galaxy Report, February 2019 Predictors Study. https://redagency.com.au/re...
Vanessa Skye Mitchell
DNA-based marketing: The next big thing?
RIP holden
Max Polding
Marketing professor: For Holden, brand nostalgia ain’t what it used to be
Where does the claim that 2 million Australians have tested come from ? Anecdotal information suggests that this is way off the mark.
David Andersen
DNA-based marketing: The next big thing?
Thank you for the info , being part of a digital marketing agency in kerala , this proved handy and get to know with upcoming trends. htt...
Dotz Web Technologies
Predictions: 9 digital marketing trends for 2019
So who then is correct? The Research or The skilled Digital people.
Anene
Report reveals Australia faces digital skills shortage