Internet of Things investment group Tern PLC (LON:TERN) has promoted its former executive director Al Sisto to chief executive with immediate effect.
Sisto will now take direct responsibility for the firm’s day-to-day operations, while executive chairman Angus Forrest will continue to focus on strategy, relationships and corporate development.
“Al's expertise has been built running both large publicly traded companies and small start-up software companies in the US and Europe,” said Forrest.
“The board believes this new position will advance and strengthen Tern's development."
Sisto was appointed to the company’s board as an executive director back in February 2014.
He will continue to act as executive chairman of Tern’s major asset Device Authority Limited, the firm said.