Dev Clever (LSE: DEV ) has announced it has appointed Richard Lee to the Senior Management team as Global Sales Director of the Educate Division.
Richard was until very recently the Business Development Manager of the Global Educational Verticals at Lenovo Group Limited ("Lenovo"). Prior to that Richard worked across a number of other roles at Lenovo, including as part of its Global Solutions team.
In particular, Richard’s experience of launching the Lenovo VR Classroom product will provide Dev Clever with an in-depth understanding of the global EdTech market.
In order to accelerate certain important joint initiatives between Lenovo and Dev Clever, it was agreed that Richard would transition from Lenovo to Dev Clever immediately, which provides the opportunity for Richard to leverage the recent partnership agreement with Veative Labs Pte. Ltd.
Richard will focus on building the Company's existing partnerships and enhance the already focused sales strategy in its current global territories.
Additionally, Richard will assist with developing the strategy for entry into new territories including the recently announced entry into the significant Indian market.
Shares in DEV advance 1.2% on the back of the announcement.
Chris Jeffries, CEO of Dev Clever, commented on the appointment: "Richard is a great addition to our Senior Management team and I am really pleased that he can join us with immediate effect. We continue to make encouraging progress and are in a position to attract and secure talented individuals who require minimal on-boarding and can hit the ground running to help us drive our business securely towards the next phase of profitable expansion."
Richard Lee, Global Sales Director of the Educate Division, added: "I am delighted to join at this exciting and pivotal period of Dev Clever's development. Over the past year I have come to know both Dev Clever's innovative product solutions and the team well, and I'm confident my expertise will add significant value at this stage in the Company's development.
The recent partnership agreement with Veative gives substantial additional reach and credibility and has clearly strengthened the collective product proposition in the Education vertical. I am excited to have been given the opportunity to drive and further accelerate the growth of LaunchYourCareer.com and VICTAR VR in the existing and to be added regions and countries and firmly believe that Dev Clever will thrive in this exciting and rapidly expanding sector globally."
Richard will be well incentivised over the next three years through the option to acquire 3,000,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") under the Company's EMI scheme, exercisable at a price of 10 pence per Ordinary Share. These options are subject to continuous employment with one third of the Options exercisable on the first anniversary of grant; one third exercisable on the second anniversary of grant; and one third exercisable on the third anniversary of grant. The Options expire on 19 September 2030 if not exercised.