Eckoh plc (AIM: ECK), is pleased to announce that Dan Arntz, Eckoh’s Senior Executive Vice President of US Sales, has been promoted with immediate effect to President of Eckoh US reporting into Nik Philpot, Eckoh’s CEO.
This newly created role will strengthen Eckoh US' management capability, and with Dan assuming overall responsibility for the US business he will ensure that it has the appropriate focus in line with the Group's strategy.
Dan joined Eckoh in May 2016, bringing with him over 20 years' senior sales and management experience in the technology and payments industry working for companies including IBM and First Data. Most recently, Dan spent four years as Senior Vice President of Sales at West Corporation ('West'), the Company's US partner.
Since joining Eckoh, Dan has helped Eckoh's US sales pipeline grow to record levels, including securing two multi-million dollar deals in June 2016. He is also leading the transition of the majority of the US sales pipeline to the Software-as-a-Service ('SaaS') pricing model in line with the UK business. The SaaS model will bring a number of benefits to the business, increasing the Company's proportion of recurring revenues in the US, offering longer-term client relationships and generating higher overall gross margins.
Following his promotion, Dan has also been awarded options over 400,000 Ordinary Shares in the Company ('the Options'), representing 0.17% of the issued share capital of the Company. The Options have an exercise price of 38.75 pence per share, a vesting period of three years and to be exercisable the share price will need to have increased by more than the RPI plus 15%.
Nik Philpot, Chief Executive Officer of Eckoh, commented:
'We are delighted to announce the promotion of Dan to President of Eckoh US. He has quickly and successfully delivered a positive impact on our US sales pipeline and we are confident that in this more pivotal role he will help drive the continued progress of the US business as a whole.'
For more information, please contact:
Adam Moloney, Group Finance Director
Tel: 01442 458 300