RNS Number : 3612Q
Insig AI Plc
30 May 2024
 

30 May 2024

 

Insig AI

("Insig AI" or the "Company")

 

Board changes

 

Insig AI plc (AIM:INSG), the data science and machine learning solutions company announces the following changes to its board of directors (the "Board").

 

With immediate effect Colm McVeigh will be stepping down from the Board and his role as CEO to pursue other opportunities. Richard Bernstein has been appointed as Chief Executive Officer with immediate effect to devote more time to engaging with asset managers, prospective customers and commercialising Insig's product offering.

 

The Company also announces that Warren Pearson, Chief Technical Officer is stepping down from the Board, but staying within the business as a full-time employee. This change will allow Warren to focus time on product development and deployment of Insig's machine learning solutions.

 

Finally, Insig AI is pleased to announce the appointment of John Wilson as Independent Non-Executive Chairman with immediate effect.

 

John is a globally experienced Chairman and Chief Executive, with a strong background in the technology sector.  He is currently the CEO of Bulgin Limited, a world leading manufacturer of sealed connectors and components and Independent Non-Executive Director of AIM quoted Volex plc. Previously, John previously held the roles of Senior Independent Director, Chair of the Audit Committee and Chair of the Remuneration Committee of Checkit plc (previously Elektron Technology plc), prior to which he was CEO of Elektron Technology Plc for almost a decade.  John holds a degree in Engineering from the University of Durham.

 

Following the above changes the composition of the Board is as follows:

 

-     Independent Non-Executive Chairman, John Wilson

-     Independent Non-Executive Director, Richard Cooper

-     Chief Executive Officer, Richard Bernstein

-     Chief Product Officer, Steve Cracknell

 

Richard Bernstein, CEO commented: "I'm pleased to be appointed Chief Executive at a time when the priority for the business is to convert its strong machine learning repository and data science capabilities into client wins and revenues. Although sales cycles to large corporates for emerging technologies can take up to 18 months, with impending regulatory changes, our addressable market has enormous potential. Over time, my job will be to ensure that we fully capitalise on these substantial opportunities."

 

John Wilson commented: "I am delighted to be joining Insig AI at this exciting time.  Having previously been involved in the business, as Strategic Adviser, I have had the opportunity to appreciate the significant potential for this business.  I look forward to supporting Richard and the team in realising the true potential of Insig AI. "

 

The following additional information is provided in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies.

 

John Frederick Wilson (aged 48) holds or has held the following directorships or partnerships in the past five years:

 

Current Directorships or Partnerships

 

Previous Directorships or Partnerships

 

Volex Plc

Hartest Precision Instruments India Private Limited

JFW Agritech Ltd

Hartest Precision Instruments Limited

Regatta Midco Limited

Elektron Vision Inc.

Regatta Bidco Limied

Checkit UK Limited

Regatta Topco Limited

Elektron Eye Technology Limited

Regatta Holdco Limited

Elektron IP Limited

Bulgin Limited

Checkit Europe Limited

Bulgin Inc.

Elecktron Precision Instruments Limited


Munro Instruments Limited


Abbey Place (Fordham) Management Company Limited


Checkit Plc


Bulgin Connectors Limited


Elektron Enterprises 1 Limited

 

Mr Wilson and persons closely associated currently hold 800,000 ordinary shares in the Company.

 

There is no further information to be disclosed pursuant to Schedule Two Part (g) of the AIM Rules for Companies.

 

 

For further information, please visit www.insg.ai or contact:

Insig AI plc

Richard Bernstein, CEO

 


richard.bernstein@insg.ai

Zeus (Nominated Adviser & Broker)

David Foreman / James Hornigold

+44 (0) 203 829 5000

 




 

 

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