Venzee Appoints Mega Brands Former Founder, President and CEO to the Board
Venzee Technologies Inc., is pleased to announce it has appointed Mr. Marc Bertrand to the board of directors, effective immediately.
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Mr. Bertrand was the founder, President and CEO of Mega Brands, which was acquired by Mattel Brands in 2014 for more than US $450M. MEGA Brands had net sales for fiscal year 2013 of US $405 million, and as a standalone company, ranked among the top 15 toy companies globally by sales according to statistics published by the market research company NPD in 2013.
“I am pleased to be joining John Abrams and his team on the Board of Directors as they scale the Venzee solution worldwide,” stated Mr. Bertrand. “At Mega Brands, we worked with retailers in 100 countries and listed thousands of SKUs with them. When I learned how Venzee’s artificial intelligence technology seamlessly connects manufacturers with omnichannel retailers, I quickly understood the cost reduction and speed to market benefits for brands like ours. Venzee has proven its business model with some of the largest brands in the world, validating their digital solution for the global supply chain.”
Venzee’s Mesh Connector™ technology solves a colossal retail supply chain problem. Its one-time product setup allows brands to instantly unlock more sales channels in less time, with less cost, less labor, and fewer errors.
Radically simpler than alternatives, Venzee’s Mesh Connectors™ are system agnostic and infinitely scalable. By streamlining and automating the syndication of brand product information across retailer selling channels, Mesh Connectors™ provide brands with a competitive edge that accelerates time to market and maximizes cost-effectiveness. Venzee’s Mesh Connector™ can make the tedious process of setting up thousands of individual retail channels for a single product a thing of the past.
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“Mr. Bertrand, now a major shareholder, is an excellent addition to the team and brings an enormous wealth of experience in global retail trade and capital markets,” said Mr. John Abrams, President and CEO of Venzee. “We strive to disrupt the archaic linear supply chain that has limited any brands’ ability to scale their global distribution channels. By using the Venzee platform to displace inefficient manual processes, brand leaders like Marc are better equipped to scale sales globally. We are confident Marc’s experience and network will bring significant value as we execute on our business objectives.”
Additionally, the Company reports that at its recent annual general and special meeting of common shareholders, the Company’s disinterested shareholders (those who are not insiders of the Company) approved the adoption of the “Omnibus Plan.” The purpose of this omnibus long term incentive plan is to attract, retain and motivate key individuals. The aggregate number of shares allowed to be granted under the Omnibus Plan shall not exceed 16,800,000, which together, with any other security based compensation arrangement, shall not exceed 10% of the total of shares issued and outstanding, from time to time.
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