Weve seeks CEO as Sear leaves

Weve, the mobile advertising and m-commerce joint venture between O2, Vodafone and EE, is on the hunt for a chief executive after it was announced David Sear is to leave the company.

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WEVE CEO David Sear to leave mobile advertising and m-commerce joint venture next month.

Sear is to leave next month.  It is thought he does have another job to go to but the company declined to say with which brand when contacted by Marketing Week.

A spokeswoman for Weve adds it will announce its new CEO “in due course”, suggesting a successor has been lined up.

The company has been expanding its portfolio under Sear’s leadership this year, most recently unveiling food chain EAT as the first brand to trial its loyalty app Pouch.

The move followed news of its partnership with Mastercard to bring contactless payments to mobile phones via banking brands’ mobile apps and the January launch of its display ad service trial.

In its first financial disclosure to Companies House, the company reported revenue of £12.7m for the six months to 31 December 2013. However, operating expenses of more than £30m meant it made a loss of more than £24m in the period.

Sear was made CEO at the joint venture’s inception in February 2013. He was previously chairman of telecoms technology provider Semafone and mobile analytics company Bango.

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