Technology-driven travel company Monaker Group, Inc. (OTCQB: MKGI) this morning announced the appointment of Robert Post, president and CEO of Cloud5 Communications and executive chairman of The Knowland Group, to its board of directors. Following this addition, the company’s board now includes six members, four of whom are serving independently.
“Bob’s appointment adds a tremendous wealth of senior-level experience, knowledge and accomplishments to our board,” Bill Kerby, chairman and CEO of Monaker Group, stated in this morning’s news release. “We expect Bob to provide valuable guidance and insights as the company enters a pivotal period in its growth and development. This includes our near-term launch of the industry’s first-ever ‘real-time’ alternative lodging reservation system, which also offers mainstream travel products and services all on a single site.”
All told, Post brings more than two decades of experience in the travel and hospitality sectors to the Monaker team. In addition to his time with Cloud5, the largest provider of cloud-based telecommunications and high speed internet services to some of the hospitality industry’s most recognizable brands, Post previously served as chairman and CEO of TravelCLICK, a leading provider of hotel e-commerce solutions with operations spanning 140 countries. Under his guidance, TravelCLICK grew from $35 million in annual revenue to more than $200 million, achieving high double-digit profitability. Post also served as the CFO and VP of business development of OpenTable.com, which was eventually acquired by the Priceline Group (NASDAQ: PCLN) for $2.6 billion.
For Monaker Group, the appointment of Robert Post as an independent addition to its board of directors is in line with previously announced intentions for a Nasdaq uplisting. Per Nasdaq listing requirements, the company will be required to maintain a majority of independent directors on its board in order to qualify for uplisting in the future.
Post’s appointment marks the second such announcement from Monaker Group during the first month of 2017. On January 5, the company announced the appointment of Simon Orange, the founding partner and chairman of CorpAcq, to its board. At the time of that appointment, CEO Bill Kerby noted that, while the addition of Orange to Monaker Group’s board of directors satisfied the listing requirements for an independent majority, the company planned to continue its “search and evaluation process to bring on additional board members” in an effort to strengthen its leadership and the composition of its board committees.
For more information, visit www.MonakerGroup.com
