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

Latest Videos

More Videos

fdgfd www.google.com

Caroline Natalia

How WW shifted physical engagement to virtual success in 5 days

Read more

I found decent information in your article. I am impressed with how nicely you described this subject, It is a gainful article for us. Th...

Daniel Hughes

What 1800 Flowers is doing to create a consistent customer communications experience

Read more

Extremely informative. One should definitely go through the blog in order to know different aspects of the Retail Business and retail Tec...

Sheetal Kamble

SAP retail chief: Why more retailers need to harness data differently

Read more

It's actually a nice and helpful piece of info. I am satisfied that you shared this helpful information with us. Please stay us informed ...

FIO Homes

How a brand facelift and content strategy turned real estate software, Rockend, around

Read more

I find this very strange. The Coles store i shop in still has Flouro lights? T though this would have been the 1st thing they would have ...

Brad

Coles launches new sustainability initiative

Read more

Blog Posts

9 lessons from 7 months of relentless failure

The most innovative organisations embrace failure. Why? Because it is often through failing the most creative out-of-box thinking happens. And with it comes vital learning opportunities that bring new knowledge and experience into teams.

Jacki James

Digital product lead, Starlight Children's Foundation

Why conflict can be good for your brand

Conflict is essentially a clash. When between two people, it’s just about always a clash of views or opinions. And when it comes to this type of conflict, more than the misaligned views themselves, what we typically hate the most is our physiological response.

Kathy Benson

Chief client officer, Ipsos

Brand storytelling lessons from Singapore’s iconic Fullerton hotel

In early 2020, I had the pleasure of staying at the newly opened Fullerton Hotel in Sydney. It was on this trip I first became aware of the Fullerton’s commitment to brand storytelling.

Gabrielle Dolan

Business storytelling leader

Sign in