Friday, 6 June 2008

Tele Atlas Proposes New CEO As TomTom Closes Acquisition

With TomTom in the midst of closing its acquisition of Tele Atlas the digital mapping company has announced and it will be make a binding nomination to appoint Bill Henry as its new Chief Executive Officer (CEO) and member of its Management Board.

According to a release, Alain De Taeye, who formed the company in 1984, will resign as CEO and member of the Management Board after the proposed appointment of Henry.

De Taeye will be proposed to be appointed as a member of the management board of TomTom but will remain strategically involved with Tele Atlas, giving the company continued access to his vast experience and industry knowledge.

De Taeye said the proposed appointment of Henry was important for the company’s next stage of development.

“Tele Atlas is starting an exciting, new chapter in its history. Bill has the experience and perspective we need to lead the next era in digital mapping, one in which community-based input and real time data help create the best experience for digital map users,” continued De Taeye.

Following the Settlement Date, George Fink, President and Chief Operating Officer, will be retiring as President and COO and will step down as a member of the Management Board.

In July of 2007, world's largest maker of car navigation devices, TomTom, agreed to buy Tele Atlas for about 2 billion euros.