Veltyco CEO stands down to pursue 'other business interests'

Online marketing and operating company Veltyco told investors on Friday that chief executive Melissa Blau had decided to step down from her role with the outfit, effective immediately.

Veltyco said that Blau, who opted to leave the firm in order to focus on "other business interests", would be replaced by chairman Gilles Ohana until a permanent replacement could be secured.

The AIM-listed group said Ohana will lead Veltyco's strategy and development in "the near-to-medium term".

Gilles Ohana said: "We wish Melissa all the best in her future endeavours and, on behalf of the board, I would like to thank her for her valuable contribution to the group as CEO."

The videogame-focused marketing company revealed a 40% rise in first-half revenues back in September had been offset by increased selling costs and marketing spend.

The company intends to launch its own regulated brand in the online financial trading sector during the fourth quarter after acquiring a database of active customers in the financial trading industry.

As of 1030 BST, Veltyco shares had slipped 1.45% to 34p.