VOD operator Anytime takes a time-out

26 November 2007

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Singapore – Andrew Yap, Chairman of Asian Video-on-Demand content supplier Anytime, has assumed the duties of CEO Craig Zimbulis, who resigned on Oct. 4, and Greg Coote, who stepped down as Chairman on Nov. 8.
Yap said, “It is a natural evolution for any company to experience some renewal of management. Upon successful completion of Anytime’s corporate and financial restructuring, I will be introducing several executives to further strengthen the management team. Anytime’s service will continue without interruption during this corporate and finance restructuring period.” He expects the restructuring to be completed by Christmas 2007.
Interim Chief Operating Officer is Roger Simkin, who has 10 years experience in On Demand since the creation of Front Row in the UK in 1997. In 2004, Simkin set up his own consulting company, becoming Interim Director of Strategy, and Director of Sales and Marketing for BT’s IPTV program; followed by helping to develop Accenture’s and IBM’s IPTV plans in Asia.
Interim Chief Financial Officer Garry Stephen has 11 years experience advising companies on their strategic positioning and capitalisation requirements; 14 years investment banking experience in M&A, capital markets and structured corporate lending; and five years experience in
long term funding for a major corporation.
As reported in Television Asia’s Executive News in mid-September, Anytime’s future seemed uncertain with significant arrears owed to both staff and suppliers. At that time, Zimbulis promised a major funding announcement end-September following Board approval.
Yap blames the failure to secure that funding, believed to have been in the region of US$22 million, upon financiers’ and shareholders’ lack of confidence in the “old management’s business plan”. He says that all Anytime services are up and running; the office has been relocated; and some staff are still working for the company.