Helsinki, Finland – October 16, 2008 – Xtract announced today that the company’s board of directors has appointed Michael Hallén as chairman of the board effective immediately. Hallén has a solid experience from several technology companies.
Michael Hallén’s most recent operational assignment was as president and CEO of Stockholm listed Boss Media AB, a leading systems supplier in digitally-distributed gaming entertainment. His team contributed in revitalizing the company and then to a successful public bid process resulting in Boss Media being acquired by US based GTECH in April 2008. Previously, Hallén was president and CEO of IFS AB, a provider of business applications, also listed in Stockholm and operating in some 50 countries. He played a key role in the company’s international expansion and has also been establishing its offshore capabilities.
“I am thrilled to be elected chairman of the board of Xtract and to contribute in building the next successful step in the company’s fast development,” says Michael Hallén. “Xtract has built a unique proposition and track record providing software products that enable highly accurate customer targeting and profiling for telecom operators and online social media. I am impressed by the results and the dramatic increase of return on marketing investment for the Xtract customers.”
In support of his interest in building entrepreneurial companies, Hallén has held board positions in a number of other technology companies. He is currently active in the boards of Extenda, a supplier of software for the retail industry; Cambio, provider of healthcare administration software; and XDIN, an engineering consultation firm.
"Michael is the right person to head Xtract’s board through these exciting and challenging times," said Timo Laaksonen, Xtract’s CEO. "He brings hands-on experience combined with in-depth knowledge and vision of the market that Xtract needs to strengthen our long term strategy and execution."
