Lingo Media Corp (CVE:LM) said Thursday that Gali Bar-Ziv, an executive with more than 15 years of management and entrepreneurial experience, has been promoted to CEO from chief operating officer.
The Toronto-based developer of English language learning products said in a press release that Bar-Ziv replaces Michael Kraft, who will serve as chairman and remain an active director.
"The board is very appreciative of Michael's contributions in building and enhancing our channel sales strategies,” Bar-Ziv said in a statement.
Bar-Ziv, who was also named as a director, is experienced in financing, mergers and acquisitions, strategic planning, channel development and corporate development, according to Lingo. He previously expanded revenue at a sales, marketing and distribution start-up and is credited with turning around the largest service division of a C$300 million financial services company
The appointments were approved at Tuesday’s shareholder meeting. The shareholders re-elected Jerry Grafstein, Robert Martellacci, Martin Bernholtz, Tommy Weibing Gong and Michael Kraft as directors. The reappointment of RSM Canada as auditor was approved.
Shares of Lingo fetched C$0.08 in Wednesday’s Canadian trading.
Last month, Lingo reported that its quarterly net loss narrowed as the demand for English- language learning programs in Latin America and Asia grew.
Contact Dennis Fitzgerald at [email protected]