Mandate Accomplished: Gregory Kris resigns as CEO as Decibel welcomes new investors.
Gregory Kris, CEO of Decibel Music Systems, has resigned from the Board of Directors and as an employee of the company. His resignation as a director is effective immediately and he will leave as an employee on 31 January 2013. In conjunction with this change, Decibel Music Systems have received a further round of funding from private investors who have purchased shares from Mr. Kris.
“After successfully overseeing the acquisition of a third round of funding for Decibel, and the development of a revenue-positive business from scratch, my job here is done. Starting 3 years, ago, we took a robust core technology, and created a suite of market-leading products and services for the management of metadata for digital media,” said Mr. Kris.
“Although leaving my role as an executive in the company, I will remain a shareholder and advisor to the management team and the board, and leave the company in the hands of my co-founder, Evan Stein, who will be leading the company through its next phase of development.”
“Evan has earned a well founded reputation for creativity and delivery, spanning two decades of innovation in intelligence gathering and data processing. The company will continue from strength to strength under his guidance while I look forward to continuing with complimentary projects in the digital media sector in Europe and the USA.”
“We will certainly miss Greg,’ said Stein, President of Decibel. “He’s been a valuable friend and partner and his presence, reputation and drive have been a huge factor in our success to date. We look forward to continuing to work with him in the future, and want to thank him for his leadership, vision and selfless commitment to the company for the past few years.”
The company said it did ‘not expect the departure of Mr. Gregory Kris to have any material impact on its ongoing operations,’ and that the ‘funding received will enable the company to continue its product development and expansion as planned’.
Decibel handles the digital metadata needs for over 500 companies in digital media, retail and broadcasting.