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All change at the top for KIT digital

TV Everywhere specialist KIT digital has named shareholder and director Peter Heiland as its new Chief Executive to take over from outgoing CEO Barak Bar-Cohen.

Bar-Cohen, who himself was appointed only last March, has become the latest in a series of reshuffles at the top of the company’s executive leadership, which have included the naming of a new Chief Financial Officer and Chief Technology Officer.

Peter Heiland is a managing director of investment firm JEC Capital Partners, which holds a minority stake in KIT digital of around 8%, and which drove through the appointment of four new directors to KIT’s board earlier in the summer.

KIT digital, which has its operational headquarters in Prague and its corporate HQ in New York City, was recently named by US firm ABI Research as the leading provider of content management systems in the digital video market, having generated revenues of nearly US$ 175mn from media and entertainment companies last year.

The company recently took a number of steps to strengthen its position in the booming Asia Pacific market, including relocating its regional headquarters to Singapore.

KIT counts some of the biggest technology, entertainment and media companies in the world as clients, including Google, Hewlett Packard, Disney-ABC, MTV and the BBC, but has not managed to turn a profit since it was listed on the NASDAQ stock exchange in 2009.

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