COLT Founder Appointed CEO of European Internet Capital Limited.Business/Technological Editors LONDON--(BUSINESS WIRE)--July, 26 2000 The Board of European Internet Capital Limited ("EI Capital"), the Guernsey-based strategic investor in the European business to business ("B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business ") e-commerce sector, announced today the appointment of Malcolm Matson as Chief Executive Officer, effective immediately. Mr Matson, aged 56, joined EI Capital as a non-executive Director A non-executive director (NED, also NXD) or outside director is a member of the board of directors of a company who does not form part of the executive management team. He or she is not an employee of the company or affiliated with it in any other way. in March 2000 following a career as a pioneering entrepreneur in the European telecommunications and IT sectors. Among his many achievements he founded Europe's first all fibre public telecommunications network A telecommunications network is a of telecommunications links and nodes arranged so that messages may be passed from one part of the network to another over multiple links and through various nodes. , COLT, -- (now COLT Telecom Group COLT Telecom Group plc (originally City Of London Telecommunications) is a telecommunications company based in the United Kingdom, but with operations in 13 countries in Europe. plc) -- in 1989 and, prior to that, co-founded Britain's first operational broadband cable network. Previously he was general commercial manager of a leading aerospace manufacturer. Mr Matson takes over as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. from Simon Reid who steered EI Capital through the company's start-up phase. Mr Reid remains on the Board of EI Capital. Commenting on his appointment, Mr Matson said: "I am delighted to undertake this important and exciting role in a company that has the vision, commitment and resources to become the leading `value added' European investor in B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. ." "Since its establishment in 1999, European Internet Capital has made significant progress, developing a solid operating infrastructure and building an enviable investment portfolio. An important aspect of my role will be to oversee the company's aggressive expansion plans. I believe that we have a unique opportunity to use modern technology in order to build a "virtual" pan-European organization and community which will be a benchmark for the new economy and yield exceptional shareholder value." The other members of the Board of EI Capital are Julian Bryson, Chief Investment Officer; David Rogers and Jan Kvarnstrom, Chairman. European Internet Capital European Internet Capital (www.eicapital.com) invests in European and US B2B e-commerce companies seeking to develop their businesses in Europe. It is also positioning itself as European "partner of choice" for US entrepreneurs and venture capitalists seeking entry into the European market. To date, EI Capital has invested approximately (pound)7 million in seven companies in the UK, France and the US. In addition to its objectives as a long-term investor Long-term investor A person who makes investments for a period of at least five years in order to finance his or her long-term goals. , EI Capital aims to take an active interest in the development of its portfolio companies and applies its management and operational resources to provide strategic guidance and support to them. The Company has offices in the United Kingdom, Continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. and the United States. |
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