Fobi Appoints Former NielsenIQ VP of Strategic Alliances North America, Richard Lee as SVP of Strategy & Corporate Development to Support Fobi’s Continued Growth in 2021

Rhea-AI Summary

Fobi AI Inc. has appointed Richard Lee as its new SVP of Strategy & Corporate Development. Lee, previously at NielsenIQ, brings extensive experience in strategic alliances and business development, particularly in the retail and CPG sectors. Fobi's CEO Rob Anson expressed confidence in Lee’s ability to enhance the management team and accelerate growth. Lee's expertise will focus on investment opportunities, partnerships, and mergers to bolster Fobi's innovation and market presence. This strategic hiring is expected to drive Fobi’s growth in the rapidly evolving retail landscape.

Positive

• Appointment of Richard Lee as SVP of Strategy & Corporate Development enhances management team.
• Lee brings substantial experience in strategic alliances and business development from NielsenIQ.
• Expertise expected to accelerate Fobi's growth in Retail and CPG sectors.

Negative

• None.

Key hiring will further strengthen the stellar Fobi senior management team and will immediately accelerate Fobi’s growth in the Retail and CPG space

VANCOUVER, British Columbia, June 08, 2021 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI:TSX.V) (RACMF:OTCQB) (the "Company" or "Fobi"), a global leader in providing real-time data analytics through artificial intelligence to drive customer activation and engagement, is pleased to announce that Fobi has appointed Richard Lee, former VP of Strategic Alliances at NielsenIQ, as its new SVP of Strategy & Corporate Development.

Richard held various roles at NielsenIQ, starting in Corporate Tax and quickly moving into a leadership role in Financial Planning & Analysis for the Canadian organization. Subsequently, Richard served as VP Business Development, Canada, leading and playing key roles in many business development activities, including partnerships, acquisitions and divestitures.  In his most recent role, Richard was the VP of Strategic Alliances for North America, taking the lead in evaluating strategic alliances through all phases, including strategy development, due diligence, structuring, negotiations, closing, and go-to-market preparation.  

Rob Anson, Fobi CEO said, “We’re honoured that Richard would choose to join Fobi from such a distinguished organization as NielsenIQ. This certainly shows his confidence in Fobi’s direction, and he will further strengthen our already impressive senior management team. Richard’s experience and relationships in the retail and CPG space will pay immediate dividends for Fobi.”

As SVP of Strategy and Corporate Development, Richard will leverage his deep knowledge of the Market Research and Data & Analytics spaces, particularly in CPG and grocery retail.  He brings incredible business and financial acumen, and with his ability to forge strong relationships Richard is a great fit to lead Fobi’s strategic and corporate development activities. Richard will work closely with the management team to provide leadership in evaluating and executing new investment opportunities, partnerships/ alliances, acquisitions, mergers, and joint ventures, which will in turn accelerate Fobi’s growth and innovation.

Richard Lee stated: “It’s an exciting time to be joining Fobi, especially in light of the acceleration we’ve seen in the adoption of digital transformation across all industries.  Fobi’s IOT technology which enables real-time capabilities across a wide range of solutions will not only enhance but unlock new capabilities for the brick-and-mortar space.” 

This Press Release Is Available On the Fobi Website, and also on the Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement.

About Fobi

Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi’s unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.

For more information, please contact:

Fobi AI Inc.		Fobi Website: www.fobi.ai
Rob Anson, CEO		Facebook: @ Fobiinc
T : +1 877-754-5336 Ext. 4		Twitter: @ Fobi_inc
E: ir@fobi.ai		LinkedIn: @ Fobiinc

This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Fobi's business and technology; the ability of Fobi to engage with industry participants to achieve its goals; the development of Fobi's technology; and the viability of Fobi's business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Fobi's control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Fobi believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity, or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Fobi does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Fobi should be considered highly speculative. There can be no assurance that Fobi will be able to achieve all or any of its proposed objectives.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

 

FAQ

What is Fobi AI's recent management change?

Fobi AI recently appointed Richard Lee as SVP of Strategy & Corporate Development to strengthen its senior management team.

How will Richard Lee's appointment impact Fobi AI?

Lee's extensive experience in strategic alliances and business development is expected to accelerate Fobi's growth and innovation.

What role did Richard Lee have before joining Fobi AI?

Prior to Fobi, Richard Lee was VP of Strategic Alliances at NielsenIQ, focusing on partnerships and business development.

What sectors will Richard Lee focus on in his new role at Fobi AI?

Lee will focus on driving Fobi's strategy in the retail and consumer packaged goods (CPG) sectors.

What are Fobi AI's goals with Richard Lee on board?

Fobi aims to expand its investment opportunities and strategic partnerships under Lee's leadership, enhancing market capabilities.