Tungsten appoints new CEO

London, 21 June 2021: The board of Tungsten Network announces that Andrew Lemonofides, Chief Executive Officer, having overseen the recent transformation of the Company, will be leaving Tungsten at the end of June and will step down from the board with immediate effect.

Speaking about his departure, Andrew said, “It has been a pleasure leading Tungsten in such extraordinary times and working with such talented, dedicated and driven people. I joined in September 2019 to build a solid foundation for growth, which is what as a team we have achieved and so this is the right time for me to hand over the reins for the next chapter in Tungsten’s journey.”

Tungsten is also pleased to announce that Paul Cooper is joining the Group as Chief Executive Officer with immediate effect.

Paul Cooper joins Tungsten from NTT Limited, Europe’s leading provider of IT services, where he was most recently the Regional Director for NTT in Europe, with ultimate strategic, operational and financial responsibility for eleven European countries generating annual revenues of $900M, encompassing 2500 employees. He has spent a total of 21 years with Dimension Data and NTT (who merged in 2019), initially joining Dimension Data in 1999 in Australia as a member of the finance team. He moved to Dimension Data UK in 2004 and was appointed as Chief Financial Officer for Dimension Data UK in 2006. In 2011, Paul assumed the role of Chief Operating Officer for Dimension Data UK, leading the company through various continuous improvement and business transformation programs. Paul was appointed Chief Financial Officer for Dimension Data in Europe in October 2017, and before taking his most recent role as NTT Regional Director, Europe in October 2019. Online technology has been a cornerstone of his career.

Paul holds a Bachelor of Commerce degree from the Australian National University, and also qualified with CPA Australia in 2001.

Tony Bromovsky, Chairman of Tungsten said, “On behalf of the Board and the whole Company, I would like to extend a very warm welcome to Paul. He arrives with a fantastic track record of execution prowess, strong leadership and an impressive set of relevant skills, and we look forward to working with him on the next stage of Tungsten’s journey.

On behalf of the Board, I would like to take this opportunity to thank Andrew for his leadership and his significant contribution during his time with Tungsten. The Company has come through a very difficult year with some promising end of year results, which Andrew played a pivotal role in delivering and in transforming the business to establish a firm platform for growth. We wish him every success for the future.”

Commenting on his appointment, Paul Cooper said, “I am really excited about having the opportunity to work with the team and lead Tungsten into the next phase of strategy execution. With digital transformation accelerating through the course of the pandemic, the client value of increased buyer and supplier connections on the proven Tungsten Network is more compelling than ever.”

 

Enquiries

Tavistock Communications Financial PR & IR

Heather Armstrong

Katie Hopkins

 

+44 20 7920 3150

[email protected]

 

About Tungsten Network

Our vision is to be the world’s most trusted business transaction network by using intelligent data to strengthen the global supply chain. Trusted, passionate and proven, Tungsten is making the digitisation of global commerce between Buyers and Suppliers faster, easier and smarter.

Tungsten Network processes invoices for 70% of the FTSE 100 and 72% of the Fortune 500. It enables Suppliers to submit tax compliant e-invoices in 54 countries, and last year processed transactions worth over £195bn for organisations such as Alliance Data, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Mondelēz International, Henkel, IBM, Kellogg’s and the US Federal Government.

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