Jaxsta (ASX:JXT) promotes Josh Simons to Chief Executive role

• Jaxsta (JXT) appoints Vampr co-founder and CEO, Josh Simons, as its newest Chief Executive Officer
• Mr Simons first joined Jaxsta in the role of Chief Strategy Officer following the recent acquisition of Vampr on June 1 2023
• Following his promotion to CEO, he will continue to assume his strategy responsibilities on top of the new leadership role
• Mr Simons replaces Beth Appleton, who will step down from the CEO role immediately and has agreed to facilitate a smooth leadership transition
• Jaxsta is down 3.57 per cent and trading at 5.4 cents at 10:47 am AEST

The world’s largest database of official music credits, Jaxsta (JXT) has appointed Josh Simons as its newest Chief Executive Officer.

Mr Simons joined the company following the recent acquisition of Vampr on June 1, taking on the role of Jaxsta Chief Strategy Officer. Following his promotion to CEO, he will continue to assume these responsibilities on top of the new leadership role.

Mr Simons co-founded Vampr in 2015, alongside Hunters and Collectors singer, Barry Palmer. As CEO, he transformed Vampr into the world’s largest social-professional network for musicians with 1.3 million users, colloquially described as the “LinkedIn for creatives.”  

WiseTech (WTC) Founder and CEO Richard White, who last week became a substantial shareholder in the company as part of its $3 million capital raise, said he’s had his eye on Mr Simons for several years during his tenure at Vampr.

“I have been impressed by his tenacity, focus, vision and particularly the ability to build a commercial model that grows and retains revenue and customers,” he said.

“Now that Vampr is a part of Jaxsta, Josh will, no doubt, contribute his drive, skills and experience to the larger business.”

The incoming CEO said he believes Jaxsta has a “clear vision” going into FY24.

“Revenue, cost efficiency and profitability remain the top priorities for Jaxsta and I look forward to building on the current momentum,” Mr Simmons said.

“We have the foundation for a transformational global music product as we continue to integrate Vampr into the business and scale the Vinyl.com platform.”

Mr Simons replaces Beth Appleton, who will step down from the CEO role immediately.

“The board thanks Beth for her significant contribution to Jaxsta during a period of growth and change,” Jaxsta Chair Linda Jenkinson said.

“We wish her all the best for her future.”

Ms Appleton has agreed to work with the board and Mr Simons to ensure a smooth transition.

JXT was down 3.57 per cent and trading at 5.4 cents at 10:47 am AEST.