ENGAGE XR Holdings Plc announced the appointment of Karthik Manimozhi, aged 45, as the Group's new non-Executive Chairman effective from 1 July 2024. Karthik Manimozhi is a distinguished global executive renowned for orchestrating three billion-dollar exits, securing over $250 Million in capital, and scaling multi-billion-dollar SAAS software revenues. A proven rainmaker, he has demonstrated exceptional skill in scaling tech ventures, driving innovation, and fostering collaboration.

He currently serves as Chief Growth Officer for Mindbridge.ai. Previously, Manimozhi was Executive Vice President of Global Sales at Kyriba, a leading Fintech company specializing in Liquidity Management for Enterprises. Under his leadership, global revenues tripled, quintupling the company's valuation within four years to $1.2 Billion.

With over 20 years of international management experience, Manimozhi has held key roles at SAP, managing vital businesses across Europe, the Americas, and the Middle East. He also served as Chief of Ecosystem and Executive Director of SAP Americas, contributing to deploying a diverse ecosystem that built a billion-dollar channel business. Manimozhi's executive experience extends to roles as President and COO at 1-Page and Chief of Worldwide Partner Sales at a DELL EMC division.

He was previously CEO and Board Director at LETUS (the trading name of Payslate Inc.), a Canadian Financial Services Marketplace for Renters. Manimozhi's innovative vision, strategic insight, and unwavering commitment to excellence continue to shape the technology industry's future. Based in California (USA), Manimozhi holds an MBA from Purdue, a master's in international management from ESCP EAP Paris, and an Engineering degree from India.

Further to the above, and as permitted by the shareholder agreement, Marc Metis, aged 56, will join the Board as the representative of HTC which owns 11.96% of the total issued share capital of ENGAGE XR. Marc replaces Praveen Gupta who served as non-Executive director from 6 July 2020 to 8 December 2023, until he retired from HTC. Marc Metis is an experienced leader driving innovation in XR, software, mobile, and consumer electronics, working in senior general management, product, marketing, and investment roles.

He is Vice President at HTC where he has held a variety of planning, operating, and investment roles, reporting to the Chairwoman and CEO. He previously held senior management roles in the games and consumer electronics businesses, including CEO of venture funded Digital Chocolate, VP of Global Brand Management at Activision, and VP, Corporate Marketing at SanDisk. He began his career in strategy at management consulting firm McKinsey & Company.

Marc graduated from Dartmouth College and earned an MBA from Harvard Business School. As Chair, Karthik replaces Richard Cooper, who is stepping down from the role after six years, having led the Board since the Group's IPO. Richard will remain on the board as Senior Independent Director and Chair of the Audit Committee.

Alongside his role as Chair of the ENGAGE XR Board, Karthik will also sit as Chair of the Company's newly formed Nominations Committee, alongside Richard Cooper and Marc Metis. Furthermore, Kenny Jacobs, Non-executive director, who joined the Board in 2022, will replace Richard Cooper as Chair of the Remuneration Committee. Mr. Cooper will however remain on the Remuneration Committee.

Following the appointment of both Karthik and Marc, the ENGAGE XR board comprises seven directors, of which Karthik Manimozhi, Richard Cooper and Kenny Jacobs are considered to be independent. Karthik Manimozhi's Current directorships: Tectonic Force Corp. Historic directorships and partnerships in previous 5 years: Payslate Inc. (previously Rentmoola Payment Solutions Inc.).

Marc Steven Metis's Current directorships: XR Association, MOR Museum Inc., Steel Wool Games Inc., Surgical Theater Inc., and VRChat Inc.