RealTime IT News

Telewest Chief Joins QXL Board

[London, ENGLAND] Adam Singer, group chief executive of U.K. cable operator Telewest Communications, is to join the board of European online auctioneer QXL ricardo plc, it was announced Friday.

Singer's agreement to serve on the board will be seen as a vote of confidence in QXL, the most prominent member of the "99 percent club" -- dot-coms that lost 99 percent of their equity value in 2000.

"Adam brings many years experience in the media and telecommunications industries, and will strengthen in particular our understanding of interactive cable services," said Jim Rose, chief executive of QXL ricardo.

48-year-old Adam Singer was chairman and chief executive of pay-television channel provider Flextech plc before joining Telewest in May 2000. He is also a non-executive director of ITV franchise-holder and newspapers group SMG plc.

Observing that e-commerce is here to stay, Singer noted that it would be further reinforced by the arrival of new high-speed forms of distribution.

"What better place can there be to observe this revolution and contribute to it than at QXL, which is one of the most exciting of the new media companies to have emerged in the past few years?" queried Singer rhetorically.

Singer went on to insist that QXL has what he called "a robust business model and great potential for further growth."

QXL operates in Germany, France, Italy, the Netherlands, Norway, Denmark, Spain, Poland, Sweden, Finland, Belgium, Switzerland and the U.K.