XLMedia announced that Stuart Simms, the Company's Chief Executive Officer, has notified the Board of his intention to resign to pursue other interests. He will remain with the business for the next few months to support the Executive Team and Board, and to facilitate an orderly handover. The Board is undertaking a formal executive search process to identify a new Chief Executive Officer, someone who the Board believes can build upon the transformation of XLMedia over the past two years, and will provide further updates in due course.