Executive MovesNews

Clem Chambers Retires as CEO and from the ADVFN Board

ADVFN announced that it has onboarded Jon Mullins as its new
Chief Executive Officer, replacing Clem Chambers, effective from 28 February
2022.

According to a press release shared with Finance Magnates, Clem
Chambers, a senior executive with more than thirty-three years of experience in
Finance, and the Board of ADVFN, a London-based operator of financial
information websites for private investors, agreed that he should step down
from his post as CEO and resign all group partnerships.

His replacement, Jon Mullins has been named as Chief
Executive Officer, which will take effect from 28 February 2022.

As he exits, Chambers has agreed to support the Company in
its transition period to ensure a smooth handover to Mullins along with the ADVFN
management team. Any additional support from Chambers has been agreed to be
formalised in a consulting agreement on terms that are presently not set.

Michael Hodges, the Chairman of ADVFN, stated: “On
behalf of ADVFN, I would like to thank Clem for all his time and effort
over the last 20 years. He will be
missed, and we wish him all the best for the future.”

Additionally, the Board will compensate Chambers within his
contractual entitlement with one year’s salary paid in full and one year’s
salary settled in new ordinary shares in ADVFN. In accordance with the
compromise agreement with Chambers, the Board has issued 592,419 new ADVFN
ordinary shares at a price of 70.19p per share, amounting to £415,819
(“Settlement Shares”).

Reviewing Chambers’ Employment Background

Prior to this announcement, Chambers was serving a number of
different organisations simultaneously. He served ADVFN for the last twenty
years as CEO. He took an active role in all aspects of ADVFN plc from product
and staff development to revenue generation, marketing and the day-to-day
running of the site, according to his LinkedIn profile.

Additionally, he has been the CEO at Online Blockchain plc
for the last thirty-three years, where he was instrumental in incubating and
fostering exciting decentralised projects such as cryptocurrencies and
blockchain technology.

Moreover, he was a Director of TSCTrade and a Non-Executive
Director at Avarae Global Coins PLC (AVR). Furthermore, he was a freelance Senior Contributor
to Forbes and the Institution of Engineering and Technology (IET) – E&T
Magazine.

ADVFN announced that it has onboarded Jon Mullins as its new
Chief Executive Officer, replacing Clem Chambers, effective from 28 February
2022.

According to a press release shared with Finance Magnates, Clem
Chambers, a senior executive with more than thirty-three years of experience in
Finance, and the Board of ADVFN, a London-based operator of financial
information websites for private investors, agreed that he should step down
from his post as CEO and resign all group partnerships.

His replacement, Jon Mullins has been named as Chief
Executive Officer, which will take effect from 28 February 2022.

As he exits, Chambers has agreed to support the Company in
its transition period to ensure a smooth handover to Mullins along with the ADVFN
management team. Any additional support from Chambers has been agreed to be
formalised in a consulting agreement on terms that are presently not set.

Michael Hodges, the Chairman of ADVFN, stated: “On
behalf of ADVFN, I would like to thank Clem for all his time and effort
over the last 20 years. He will be
missed, and we wish him all the best for the future.”

Additionally, the Board will compensate Chambers within his
contractual entitlement with one year’s salary paid in full and one year’s
salary settled in new ordinary shares in ADVFN. In accordance with the
compromise agreement with Chambers, the Board has issued 592,419 new ADVFN
ordinary shares at a price of 70.19p per share, amounting to £415,819
(“Settlement Shares”).

Reviewing Chambers’ Employment Background

Prior to this announcement, Chambers was serving a number of
different organisations simultaneously. He served ADVFN for the last twenty
years as CEO. He took an active role in all aspects of ADVFN plc from product
and staff development to revenue generation, marketing and the day-to-day
running of the site, according to his LinkedIn profile.

Additionally, he has been the CEO at Online Blockchain plc
for the last thirty-three years, where he was instrumental in incubating and
fostering exciting decentralised projects such as cryptocurrencies and
blockchain technology.

Moreover, he was a Director of TSCTrade and a Non-Executive
Director at Avarae Global Coins PLC (AVR). Furthermore, he was a freelance Senior Contributor
to Forbes and the Institution of Engineering and Technology (IET) – E&T
Magazine.


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