Magine TV Appoints New CEO

STOCKHOLM: Dr. Ambuj Goyal has been named the new CEO of Magine TV after having served as a member of the company's board since May 2014 and its president and COO for the last nine months.

Goyal has overseen significant investment in innovation and tech development at the company, with a strong focus on industry partnerships. He worked at IBM for 31 years and has experience in leading technology-driven businesses. Former CEO and founder of Magine, Mattias Hjelmstedt, will continue to serve as a member of the Board.

Kamal Bherwani, chairman of the board, commented, “We thank Mattias for bringing Magine TV to this stage of development. During his tenure, Magine TV was able to establish itself as a first-of-a-kind cloud-based TV distribution company. Ambuj’s appointment [as] CEO will take Magine TV to new heights. His extensive experience in leading startups and large-scale global growth businesses will enhance our ability to scale and differentiate our offering further.”

Hjelmstedt said, “Magine is moving into the next phase of innovation and commercialization of its technology. This is the right time to pass the torch to Ambuj, who has the right leadership qualities to take Magine to this next level. As well as working on new ventures personally, I will continue to advise him as a member of the Magine board.”

“I would like to thank the board for their endorsement and trust in the team, as well as the investors who gave us new capital to execute our plan, including building new models for industry partnerships,” said Goyal.