TAALF - TAAL Distributed Information Technologies (TAALF) - CEO Transition What Does It Mean

CEO Transition. Late last week, TAAL announced current CEO Stefan Matthews will step down from this role effective January 1, 2022. Succeeding Mr. Matthews as CEO will be Richard Baker. Mr. Baker currently acts as Lead Independent Director and Chairman of the Technology Committee.Who Is Richard Baker? Mr. Baker joined TAAL's Board in December 2020. Mr. Baker is a technology entrepreneur with more than 25 years of experience in corporate enterprise and working with startups in the technology, financial services, digital media, and telecommunications industry sectors. Mr. Baker was the former Chief Executive Officer of GeoSpock, a Data Analytics software company. Formerly, Mr. Baker co-founded and ran Cleartrade Exchange, a fintech commodities futures exchange.Implications. We view the changing of the guard as normal succession. We spoke with TAAL President Chris Naprawa who indicated this was a pre-planned move. In addition, we would note that Mr. Matthews will remain as a director and as Executive Chairman of the Board, well positioned to provide ongoing support and counsel.Maintaining Outperform. We are maintaining our Outperform rating and our 12-month price target of US$7.00. We believe the Company's focus on using blockchain for transaction processing will bring long-term value, while crypto mining services provide near-term revenue and an option on rising prices for Bitcoin SV. Read More >>