*TV Media Holdings Restructures Under Management

Share this content:
SINGAPORE--TV Media Holdings Ltd., a DRTV marketer headquartered here, hired a new CEO as part of its ongoing restructuring to combat losses in Asian markets.

Bob Robertson, a co-founder of the company, was ousted from his position as CEO and is now a consultant to the firm. The ouster was led by Hambrecht & Quist Asia Pacific, the U.S. investment bank that was a minority shareholder in TV Media.

The bank was dissatisfied with the company's performance and took steps to install a new CEO. Robertson formulated an exit strategy that would give the bank greater control of the company and reduce his ownership interest in it. TV Media issued more shares of stock under H&Q's control while Robertson sold a "significant" portion of his shares to the bank.

He declined to disclose the exact level of his holdings, but said "it is less than what is required to change the articles of corporation," which suggests between 15 percent and 25 percent.

The new CEO, Michael Glassel, previously was president of Kole Mayer, the largest retailer in Australia. Robertson has a one-year contract to act as a consultant to the company.

Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above