Now a publicly traded company, Triller Group (NASDAQ: ILLR) has kicked off a ‘transformation journey’ by appointing board members and a new CEO. Photo Credit: Solen Feyissa
On the heels of its public market debut, Triller Group (NASDAQ: ILLR) has kicked off a “transformation journey,” including the appointment of a CEO, as it plots a “new chapter of progress.”
Triller disclosed the “important updates” at hand via a formal release, having teed up the announcements at the time of its AGBA Group merger last week. As we covered, that merger finally brought Triller, which had previously pursued a SPAC deal and a direct listing, to the stock market.
Now, with its shares still hovering well beneath their opening value, Triller Group is looking ahead to the future – complete with former Vevo sales exec Kevin McGurn’s signing on as CEO. Expected to officially come aboard next month, the former Hulu, Shazam, and T-Mobile exec McGurn in a statement briefly touched on his vision for the business.
“The future is bright in the world of entertainment,” relayed McGurn, “and I am extremely excited to join the team at Triller Group to maximize our value to Creators, Fans, and Brands. Our renewed focus means Triller Group is well positioned to deliver best in class entertainment, when, where and how our fans watch it.
“We will continue to build from our strong roots in vertical video, music and sports, and optimise our expertise in mobile and connected television,” concluded McGurn, who spent almost seven years with Vevo.
Also joining, albeit as part of the board, is 1-800-Flowers founder and former CEO James McCann. Serving as the nominations committee’s chairman, the professional will “bring a depth of governance expertise,” to Triller, per the company.
Lastly, in terms of Triller’s latest moves, co-founder and former CEO Bobby Sarnevesht has transitioned to the board, where his “entrepreneurial track record positions him uniquely to help guide the” TrillerTV operator.
Closer to the present, Triller further emphasized that the appointments represent “the initial step in a series of forthcoming announcements” designed to set in motion the mentioned transformation journey.
These announcements are being planned for “the coming weeks,” while a November media event is expected to see Triller provide “detailed insights into its strategic business plan” as well as information regarding its “future vision and immediate growth strategies.”
Especially with TikTok staring down a possible U.S. ban (and plenty of different obstacles), it’ll be interesting to see exactly what this business plan entails. In a roughly 150-word statement, Triller board chairman Bob Diamond pointed to a “vision of a single, integrated platform that delivers for creators, brands and users while generating value for all of our stakeholders.”