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New CEO, New Strategy for Generation5
In Canada, just five months since his promotion to the post of CEO of consumer intelligence firm Generation5, Joe Nicholson is stepping down to be replaced by former McKinsey consultant David Freese.
Freese arrives with a strategy to take the firm's prediction technology into adjacent markets including risk management, Internet behavioral targeted advertisements, and healthcare / disease management. In addition, he will be tasked with sourcing the financing to support this expansion from the venture capital market and other sources.
Founder and Chief Scientific Officer Dr Milorad Krneta commented on the new appointment: 'Our customers tell us they are using Generation5 only for a fraction of what they could be. With David's help our customers will see the benefits of automatic prediction for applications beyond targeted marketing.'
Freese's track record includes high-tech P&L improvement, growth strategy creation and business development. The former McKinsey and Anderson Consulting Executive was most recently VP and General Manager of Siebel Global Services' Financial Services business unit, and prior to this, he headed the Banking/Credit Card practice of systems integration start-up NerveWire. Freese has an MBA from the University of Chicago and a BS in Computer Engineering from University of Illinois-Urbana.
Nicholson joined the company in January last year as COO, and took over the CEO role from Krneta in November (www.mrweb.com/drno/news7558.htm ). In a statement the firm said that Nicholson is 'stepping down to pursue other opportunities in the United States'.
Generation5 was founded in 1996 to develop core prediction technology to help banks, retailers and manufacturers deliver more targeted marketing through consumer geo-demographics. The Toronto-headquartered firm is online at www.generation5.ca .
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