Tremor Video hires dedicated IR head
Tremor Video, a newly listed video advertising technology firm, has hired a dedicated head of IR and moved the function within the company.
Andrew Posen will take up the mantel of senior director of investor relations at the company with almost 20 years of financial services experience already behind him.
Most recently, Posen served as director of IR at AppNexus, where he was responsible for building and maintaining relations with both buy-side and sell-side investment communities. Before that, he headed up IR departments at FXall, Evercore Partners and Morgan Stanley. He also holds a degree in political science from McMaster University and a master’s in health administration from the University of British Columbia.
Tremor’s CFO Todd Sloan describes Posen as a ‘seasoned IR professional’ in a statement announcing his appointment. ‘His experience developing investor programs and communication strategies will help to strengthen and further develop our relationships with the investor community,’ Sloan adds.
The hire marks an important step in the NYSE-listed video company’s trading history. After its IPO in June 2013, the company attracted steady attention from public investors after an initially cool reception, largely due to a lack of tech investor interest after Facebook’s disappointing 2012 initial float.
Tremor provides technological solutions to advertisers that allow them to deliver content to computers, smartphones and internet-connected TVs. Its core technology, VideoHub, extracts information from users watching videos and tailors advert content to them.
For Posen, the decision to bring IR in-house was part of a natural progression once Tremor’s executives had decided how the function would play out.
‘Agency support is a great first step for newly public companies, but ultimately it’s important to have someone on the team living and breathing the company every day to strengthen and further develop relationships with the investor community,’ he explains.
Though tight-lipped about plans for 2014, Posen is enthusiastic about forging ahead into a competitive and ‘exciting’ advertising technology sector. ‘The industry is still growing at such a rapid pace, and investors are still wrapping their arms around it,’ he expands. ‘The market is facing a lot of new entrants, which will help us better craft why we’re unique.’
Posen says his focus will be ‘analytical thinking and deep relationships’. Being able to relay comprehensive knowledge to investors, he adds, is a case of understanding a company’s financials through internal and external relationships.