French technology outfit and service provider Netgem has appointed Mathias Hautefort as CEO, replacing Joseph Haddad, who remains chairman of the company.
Hautefort will assume his new position on July 1 and will remain president of Vitis, the unit that holds Netgem’s Videofutur service provider arm.
Netgem is in the midst of transitioning to a service-led business and the move came as the company posted Q1 numbers that saw revenues slide by 40% year-on-year to €6.6 million. While consolidated net revenues were down by 32% to €3.6 million on a like for like basis, non-consolidated revenues from Videofutur, owned jointly with Caisse des Dépôts and Océinde, were up 42% to €3 million. More than 50% of the group’s net revenues now come from services.
“Mathias Hautefort has demonstrated, in the group and before, his ability to develop service activities at the intersection of technology, media and telecoms. His appointment significantly strengthens the transformed Group’s ability to return to growth,” said Haddad.
“Netgem can build on its proven expertiseexperience in Services, coupled with an industrial capacity and innovation in Connected Devices, and a healthy balance sheet. I look forward to contributing to its development,” said Hautefort.
Netgem has moved to reorientate its business as a a provider of connected home solutions and services for multi-service operators, with a focus on providing services and equipment over public initiative fibre networks in France.
The new strategy has also been introduced in the UK market with the launch of the Netgem.tv service, offered as bundle with fibre broadband ISPs, based on the multiscreen TV product, which offers direct access to entertainment services with recommendations across live or on-demand streaming content.
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19th July 2019