December 1, 2008 / 8:48 AM / 10 years ago

Phorm says non-exec chairman, COO leave company

Dec 1 (Reuters) - Advertising technology firm Phorm Inc PHOR.L said on Monday its non-executive Chairman Steven Heyer, Chief Operating Officer Virasb Vahidi and two other board members stepped down following differences with CEO Kent Ertugrul.

The company said it appointed Norman Lamont, former Chancellor of the Exchequer and a former cabinet minister under Margaret Thatcher and John Major, as a non-executive director.

It also named Kip Meek, chairman of the Broadband Stakeholders Group, to its board. Stefan Allesch-Taylor, CEO of independent investment bank Fairfax, and Stephen Partridge-Hicks would also join the board as non-executive directors, Phorm said.

The two other board members who quit are David Dorman, Christopher Lawrence, Phorm, which provides technology for online user data privacy for advertisers, publishers and Internet service providers, said.

Shares of Phorm closed at 225 pence on Friday. (Reporting by Srikanth Srinivasa in Bangalore; Editing by Gopakumar Warrier)

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