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Tag: Fastrack

  • Fastrack launches limited edition Deadpool watches

    Fastrack launches limited edition Deadpool watches

    MUMBAI: All you superhero fans hold your breath! Cause this May Fastrack is launching watches from the Deadpool Collection and it’s that one piece of accessory you’ll have to own if you’re a Deadpool fan. If you're the smart, tongue-in-cheek, crazy millennial who loves to flaunt that swanky piece on his wrist, the Deadpool Collection from Fastrack is what you need next! And what’s better is, these are limited edition watches and you can pre-book yours even before you book movie tickets for Deadpool 2.  

    Priced at Rs. 995, these limited edition collectible watches from Fastrack come in 10 variants. To pre-book watches from the Deadpool Collection, you can visit Fastrack stores across the country or order them online on titan.co.in.  The Deadpool Collection from Fastrack will also be available exclusively on e-commerce website Flipkart.

    public://Deadpool collection in watches 1.jpg

    Explaining about the Deadpool Collection Fastrack, Head of Marketing, Ayushman Chiranewala says, “The Deadpool Collection from Fastrack is a collection of 10 watches, as mad as Deadpool himself, and will take your style quotient to a notch higher.  We wanted to team up with a Hero who is as wacky, crazy, irreverent and witty as Fastrack. Someone who packs a punch, makes you laugh your guts out while being utterly cool and someone who’s badass with a tendency to break the fourth wall as and when required.”

    public://Deadpool collection in watches 2.jpg

    All customers preordering the watch will get a free movie ticket. Fans also have a chance of winning watches from the Fastrack Deadpool Collection by participating in the #FlashYourFastrack campaign. All they would need to do is, take a picture with the life size cut out of a watch and Deadpool displayed at 170 Fastrack stores across the country and upload it with the #FlashYourFastrack hashtag.

    public://Deadpool collection in watches.jpg

  • Fastrack says move on with a single frame of mind

    Fastrack says move on with a single frame of mind

    MUMBAI: For today’s generation it is important to keep things uncomplicated even if that be a breakup. To strike a chord with this audience, Fastrack has launched a new sunglasses collection, Unilens, that specifically centres on having a single lens across the front frame.

    To promote the launch, the brand has released an ad campaign that has been conceptualised and created by Lowe Lintas.

    Titan chief marketing officer for watches and accessories division Suparna Mitra says, “Fastrack being a young brand has always been the candid voice for the millennial generation. Often tagged as commitment phobic, this generation believes in living in the moment-keeping it clutter free. The Unilens collection sports single lens across front frame and is made for the youth who stays unruffled with the hassle of break-up and moves on with single frame of mind.”

    Speaking on the agency’s edgy work produced for the brand, Lowe Lintas chairman and chief creative officer Arun Iyer adds, “When Fastrack decided to launch their new range of Unilens sunglasses, we realised it was ripe ground for us to play on the unique product design – singles framed glasses for a single frame of mind. The youth today wears their singlehood as a badge of honor and our campaign shows exactly that.”

    Fastrack head of marketing Ayushman Chiranewala mentions, “Fastrack is a brand which never fails to resonate with the psyche of the youth. The new ad campaign seamlessly represents the fast- paced dating culture youngsters prefer nowadays, highlighting the benefits of singlehood with the new Unilens collection. The campaign is a testament to the unapologetic nature of the brand and celebrates the unflinching mindset of the millennials.”

    The campaign showcases the Unilens collection priced between Rs 1199 to Rs 2499.

  • Vh1 Supersonic, India’s biggest Multi-Genre music festival joined hands

    Vh1 Supersonic, India’s biggest Multi-Genre music festival joined hands

    MUMBAI: Uniting all music lovers in Pune, the 3-day long Vh1 Supersonic 2018 was an unprecedented crowd puller this season. The Festival was lauded not only for its spectacular and diverse line-up of artistes like Sean Paul, Marshmellow, Alt-J, Major Lazer, Incubus and many more, it also strengthened its consumer engagement experience in collaboration with one of India’s finest youth brands, Fastrack. Audience footfalls grew by more than twice over its previous edition with over 60,000 music lovers having a complete blast over the 3 days.

    Vh1 Supersonic took its association with Fastrack a notch higher with the brand coming on board for the second consecutive year as the Style Partner. Vh1 Supersonic organized a Supercrew Contest for its young fans hinging on Fastrack’s ongoing campaign Shut The Fake Up campaign. The winners received a money-cant-buy opportunity of closely shadowing the Supercrew while at work during the festival. Further, riding on their message to call out fake connections and behaviours, Fastrack also installed life-size quirky installations like the Claw Slide, Faketionary setups, Pledge booths and much more to engage and entertain the consumers.

    Spellbound by the overwhelming response from the industry and fans alike, Integrated Network Solutions and Consumer Products, Business Head, Saugato Bhowmik said, “We started off with an aim to provide fans with the best ever live experience, which surpasses all previous benchmarks and we are proud to have succeeded in our endeavor. Big thanks to our key partner, Fastrack, who put their faith in the propositionl. This year they took the association to the next level with a greater degree of integration into the festival. I am proud to say that together, Vh1 Supersonic and Fastrack have a unified vision of creating magic for the audience and we succeeded on that count.”

    The brand created a special lounge with various activities for the consumers such as Shoot the fake, Beat the fake. The lounge not only had the best view to see the Live stage, it also successfully became the fan favorite with the added attractions. People could also witness the exuberance of the festival through social media conversations with contests and live sharing of the event on Fastrack’s handles.

    Elated about the successful edition, Ayushman Chiranewala Head of marketing- Fastrack shared, “We were extremely glad to associate with Vh1 Supersonic for the second year in a row. The brand synergies matched perfectly as both parties believe in leaving a lasting impression on young minds. We were very impressed by the previous year’s edition of the festival, and hence we decided to collaborate again for the 5th edition. We upped our partnership by coming on board as the Style Partner, solely because of our belief in style credentials of Vh1 Supersonic. We enjoyed the collaborative way in which we decided all the audience engagements and I have to say that the 5th edition exceeded all our expectations”

    The fifth edition of Vh1 Supersonic kept fans entertained all throughout with 6 curated stages, featuring 8 different genres. The festival introduced the Live Arena for the 1st time and pulled off the best rock and indie line-up of the year. Curated flea and food zones, along with more than 40 stalls, special arrangements for Specially-abled visitors, and extra special arrangements for women, complimented by a roster of over 100 artists, created the smoothest, safest and the most fun playground for all those present. Vh1 Supersonic collaborated with Symbiosis Institute of Design for its splendid art and design, turning the festival into a beautiful canvas on which some of the quirkiest and most interesting art was exhibited.  Special Happy Hours also ensured that the visitors had a gala time at Vh1 Supersonic 2018.

  • Fastrack asks people to Shut The Fake Up

    Fastrack asks people to Shut The Fake Up

    MUMBAI: Long before people knew what cool was, there was Fastrack! Customary and conventional, are words you would never find in Fastrack’s vocabulary. Known to break stereotypes, in its new campaign, Fastrack yet again bears the flag of defiant thought for the youth and by default, the future.

    Do you know someone who puts up a filter for the sake of it? Someone who uses a hashtag not knowing what it stands for or goes to parties just to be socially relevant? Do you laugh at things you don’t find funny or do you spend too much time in front of the mirror at the gym than the weights? Fastrack has four real words for you-Shut the Fake Up!

    Brought to life in the film by Happy McGarrybowen, Fastrack urges this very philosophy. With this campaign Fastrack challenges the norms and carves a pathway for millennials. Be it being big and beautiful, being online or offline, or simply being different and unique in your own way. It’s all about being real – online and off it.

    Titan chief marketing officer Suparna Mitra says, “Following our tradition of being in tune with the language of the youth, this campaign fits in, seamlessly. Fastrack has always spoken the language of the you.th and this TVC is no exception. Set in a relevant background, the film represents many quintessential elements to today’s youngster; from a simple chat, to actually meeting the person. The TVC borrows from the archetypal ‘boy meets girl’ narrative and showcases two versions of your life – with and without Fastrack.”

    Fastrack head of marketing Ayushman Chiranewala adds, “Fastrack being a young brand has always been the candid voice for the millennial generation. The brand has always stayed true to being unapologetic and bold in its communication. The new ‘Shut the Fake Up’ campaign is testament to the brand’s longstanding philosophy of being true to yourself and breaking status quo. As part of the larger campaign, the brand looks to ignite amongst its audience the thought of living their lives on their own accord, and we at Fastrack celebrate this individuality.”

    Today’s youth have everything that the world has to offer. From Facebook to Twitter and Snapchat to Instagram, there is nothing too obscure for this generation. “Shut the Fake Up” is Fastrack’s appeal to its audience to break free from the social façade. Narrated at breakneck pace, the commercial holds up a mirror to present-day behavior on Social Media that glorifies putting on a show for adulation. Taking pictures of food, or dressing up for the attention – a tireless display of oneself online, to fake an identity online that barely matches one’s real-world self. A story told in two parts, it contrasts two ways of approaching courtship. One by hiding behind the facade of Social Media currency and the other though sheer, honest self-expression.

    Happy Mcgarrybowen CEO Kartik Iyer mentions, “The common thread we found was that the youth today are less and less afraid of baring themselves and showing who they truly are. We thought this was a great point of view for Fastrack to stand up and own.”

    The campaign is being run on television along with extensive engagements on social media. Lowe Lintas, Bangalore continues to manage the brand’s creative duties.

  • Fastrack helps youth to find ‘Loopholes’ in latest campaign

    Fastrack helps youth to find ‘Loopholes’ in latest campaign

    MUMBAI: Fastrack has launched a new watch collection, Loopholes, that specifically highlights the design inspiration perforations on the straps. The campaign has been conceptualised by Lowe Lintas’ Bengaluru office.

    The creative leap that the agency took was to create two worlds, one within the hole and the other on the outside. The characters in the stories are seen getting their way by literally using the perforations as Loopholes (also the name of the watch collection) to their advantage and make a quick getaway. There are three films that amplify this idea.

    The campaign will be visible on online media – YouTube and social media platforms. A series of outdoor communication augmenting the design idea will also bolster the campaign’s visibility.

    Lowe Lintas Bangalore executive creative director Shiv Parameswaran adds, “Sometimes, the product itself can lead to an idea. In this case, it was the perforated design pattern of the watches. The typography we created for “Loopholes” also became the escape route for all our characters. After all, every situation has a loophole. You can get away if you spot them.”

    Fastrack head of marketing Ayushman Chiranewala adds, “The Loopholes collection is inspired by perforations on sports apparels blended with the unique Fastrack design language. It’s made for the youth who is always on the move. The campaign highlights the ‘holes/ perforations’ on the watches and adds a quirky and fashion forward touch which depicts how the consumer is on the lookout to get out of sticky situations by finding out loopholes. The collection has 36 watches sporting various functions like day date feature and multifunction feature, split equally between guys and girls.”

    Lowe Lintas president South Hari Krishnan mentions, “When Fastrack showed us their new range of perforated watches, we saw the quirk right there. Every perforation is a loophole and every loophole, an opportunity.”

  • Fastrack signs multi-year partnership with The Music Run

    MUMBAI: Fastrack, an iconic youth accessories brand, has extended its association as the Presenting sponsor of The Music Run™, the fastest growing event in the mass running and entertainment space globally. Fastrack has joined hands with Baseline Ventures, a leading sports marketing firm and promoters of The Music Run™ in India, to hold the event across multiple cities including Bangalore, Pune, Delhi, Hyderabad and Mumbai.

    Fastrack has always shared synergy with the young millennials as the brand’s DNA has innately been in line with self-expression and excitement, which aligns perfectly with The Music Run™. Through this association, Fastrack looks to bring out what comes naturally to this generation – to create and share; thus being part of a full blown experiential event.

    Titan Watches chief marketing officer Suparna Mitra stated: The event is a seamless blend of music and fitness, both of which are immensely popular amongst the youth. With this partnership, we will continue to make The Music Run go from strength to strength and we urge people to join in and be a part of this unique experience with Fastrack once again.”

    “At Fastrack, we have always believed in giving the millennials what they want and go beyond conventional boundaries to do so. On the basis of the overwhelming response received for The Music Run™last year, this is the perfect platform to gather the millennials of India under one roof, giving them the experience of a lifetime. We look to create a sense of belonging by being the voice of the youth. Our partnership with The Music Run™ is an effort to celebrate this generation’s interest in fitness and their unquenchable thirst to have a good time,” stated Fastrack head of marketing Ayushman Chiranewala.

    Baseline Ventures co-founder Vishal Jaison said: “Fastrack has been at the cutting edge of marketing trends over the last few years. We are happy that Fastrack has identified The Music Run™ as a platform that helps them connect with the two pillars of popular culture, fitness and entertainment. The Music Run™ will be expanding to multiple cities in the coming months, thus becoming the only pan India fitness and entertainment property.”

    Created in 2014, The Music Run™ has been experienced by more than 180,000 participants in over 11 countries around the world. Set over 5 km, participants at The Music Run™walk, run or dance through five different zones that each represent a different genre of music – rock, pop, old school, hip hop and dance.

  • Q2-17: Ad exp up, gold hedging helps Titan’s numbers

    Q2-17: Ad exp up, gold hedging helps Titan’s numbers

    BENGALURU: The Titan Company Limited (Titan) which believes in delivering value through brands had higher advertising spends (ad spends) in the quarter ended 30 September 2016 (Q2-17, current quarter) as compared to the corresponding year ago (y-o-y) quarter Q2-16. The company’s ad expense in the current quarter was up 9.4 percent y-o-y at Rs 98.08 crore as compared to the Rs 89.64 crore in Q2-16.

    The company’s bottomline (Profit after tax- PAT) increased 23.5 percent y-o-y to Rs 180.76 crore in Q2-17 as compared to Rs 146.35 crore. Total comprehensive income (TCI) in the current quarter was increasedfurther by a gain of Rs 100.26 crore due hedging instruments for gold price hedging, the unutilized portion of which Titan recognised as an expense head in its profit and loss statement. TCI in Q2-17 was 89.7 percent higher y-o-y at Rs 269.37 crore as compared to Rs 141.97 crore in Q2-16.

    Segment Performance

    Titan has 4 revenue segments – watches having five majorwatch brands –Titan, Xylus, Nebula, Sonata, Fastrack, and three point of sales brands – World of Titan, Helios and Fastrack; Jewellery with Tanishq, Zoya, Gold Plus from Tata and sub brand Mia; Eyewear under the Titan EYE+, Fastrack, Glares and Cabana brandsand ‘Other’ such as precision engineering among others.

    Titan’s Jewellery business is its major revenue generating stream that contributes more than70 percent to the company’s revenue.  In the current quarter, jewellery business revenue was almost flat (grew 0.2 percent, grew by Rs 4.79 crore) y-o-y to Rs 1,987.51 crore (74.3 percent of net sales) from Rs 1982.72 crore (73.9 percent of net sales). The company says that performance of the diamond studded jewellery segment was much better than plain gold segment.

    The company’s Watches division is the next major division in terms of revenue contribution. Revenues from watches declined5.2 percent (reduced by Rs 28.75 crore) y-o-y to Rs 52.369 crore (19.6 percent net sales) from Rs 552.44 crore (20.6 percent net sales).  Titan explains the reason for the decline in a release that says the Watches division continued to exhibit a decent performance in the domestic market but the overall business declined due to lack of growth in some of its international markets as well as its service business which went through re-structuring.

    Titan’s Eyewear business which contributes about 3 to 4 percent to the company’s revenue, reported 6.6 percent (increased by Rs5.86 crore) y-o-y growth in revenue to Rs95.19 crore (3.6 percent of TIO) from Rs 89.33 crore (3.3 percent of TIO).

    Titan’s TIO in the current quarter was also flat (declined 0.2percent, reduced by Rs5.57 crore) y-o-y to Rs 2,675.77 crore from Rs 2,681.34 crore.

    Advertisement spend trends

    Please refer to fig A below for Titan’s Ad expenses over a nineteen quarter period starting Q4-12 (quarter ended March 31, 2012) until the current quarter. It may be noted that Titan has started reporting its numbers as per the Indian Accounting System (IND AS) since Q1-17 and hence the numbers in the charts may not be accurate – this report and the charts are meant as an approximate representation of the company’s numbers.

    During the nineteen quarter period under consideration in this report, Titan’s Ad spends were the highest in Q1-16, both in absolute rupees and in terms of percentage of TIO. Lowest Ad spends during the same period in absolute rupees and in terms of percentage of TIO waslowest in Q4-13 at Rs 66.63 crore and 2.5 percent of TIO respectively.

    Also, during the nineteen quarter period under consideration in this report, Titan’s ad spends show a linear increasing trend in terms of absolute rupees as indicated by the broken blue trend line, while ad spends in terms of percentage of TIO show a slow linear decline as indicated by the broken maroon line in Fig A.

    public://TITAN-AD.jpg

    Company Speak

    Titan Managing Director Bhaskar Bhat said, “This was an extremely good quarter for the Company with respect to profits. All businesses of the company recorded profits in the quarter. The Jewellery business had an extremely good studded jewellery activation and the Watches business launched its second smart watch, Juxt Pro. All our retail channels grew. The festive season has commenced very well. For the Dussehra to Diwali festive period, Tanishq registered a growth of 39 percent over last year. In watches, for the same period, our World of Titan stores grew by 14 percent and Helios stores by 11 percent in retail sales.”

    Note:(1)Titan has started reporting its numbers as per the Indian Accounting System (IND AS) since Q1-17 and hence the numbers in the charts may not be accurate – this report and the charts are meant as an approximate representation of the company’s numbers.

    (2) The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • Q2-17: Ad exp up, gold hedging helps Titan’s numbers

    Q2-17: Ad exp up, gold hedging helps Titan’s numbers

    BENGALURU: The Titan Company Limited (Titan) which believes in delivering value through brands had higher advertising spends (ad spends) in the quarter ended 30 September 2016 (Q2-17, current quarter) as compared to the corresponding year ago (y-o-y) quarter Q2-16. The company’s ad expense in the current quarter was up 9.4 percent y-o-y at Rs 98.08 crore as compared to the Rs 89.64 crore in Q2-16.

    The company’s bottomline (Profit after tax- PAT) increased 23.5 percent y-o-y to Rs 180.76 crore in Q2-17 as compared to Rs 146.35 crore. Total comprehensive income (TCI) in the current quarter was increasedfurther by a gain of Rs 100.26 crore due hedging instruments for gold price hedging, the unutilized portion of which Titan recognised as an expense head in its profit and loss statement. TCI in Q2-17 was 89.7 percent higher y-o-y at Rs 269.37 crore as compared to Rs 141.97 crore in Q2-16.

    Segment Performance

    Titan has 4 revenue segments – watches having five majorwatch brands –Titan, Xylus, Nebula, Sonata, Fastrack, and three point of sales brands – World of Titan, Helios and Fastrack; Jewellery with Tanishq, Zoya, Gold Plus from Tata and sub brand Mia; Eyewear under the Titan EYE+, Fastrack, Glares and Cabana brandsand ‘Other’ such as precision engineering among others.

    Titan’s Jewellery business is its major revenue generating stream that contributes more than70 percent to the company’s revenue.  In the current quarter, jewellery business revenue was almost flat (grew 0.2 percent, grew by Rs 4.79 crore) y-o-y to Rs 1,987.51 crore (74.3 percent of net sales) from Rs 1982.72 crore (73.9 percent of net sales). The company says that performance of the diamond studded jewellery segment was much better than plain gold segment.

    The company’s Watches division is the next major division in terms of revenue contribution. Revenues from watches declined5.2 percent (reduced by Rs 28.75 crore) y-o-y to Rs 52.369 crore (19.6 percent net sales) from Rs 552.44 crore (20.6 percent net sales).  Titan explains the reason for the decline in a release that says the Watches division continued to exhibit a decent performance in the domestic market but the overall business declined due to lack of growth in some of its international markets as well as its service business which went through re-structuring.

    Titan’s Eyewear business which contributes about 3 to 4 percent to the company’s revenue, reported 6.6 percent (increased by Rs5.86 crore) y-o-y growth in revenue to Rs95.19 crore (3.6 percent of TIO) from Rs 89.33 crore (3.3 percent of TIO).

    Titan’s TIO in the current quarter was also flat (declined 0.2percent, reduced by Rs5.57 crore) y-o-y to Rs 2,675.77 crore from Rs 2,681.34 crore.

    Advertisement spend trends

    Please refer to fig A below for Titan’s Ad expenses over a nineteen quarter period starting Q4-12 (quarter ended March 31, 2012) until the current quarter. It may be noted that Titan has started reporting its numbers as per the Indian Accounting System (IND AS) since Q1-17 and hence the numbers in the charts may not be accurate – this report and the charts are meant as an approximate representation of the company’s numbers.

    During the nineteen quarter period under consideration in this report, Titan’s Ad spends were the highest in Q1-16, both in absolute rupees and in terms of percentage of TIO. Lowest Ad spends during the same period in absolute rupees and in terms of percentage of TIO waslowest in Q4-13 at Rs 66.63 crore and 2.5 percent of TIO respectively.

    Also, during the nineteen quarter period under consideration in this report, Titan’s ad spends show a linear increasing trend in terms of absolute rupees as indicated by the broken blue trend line, while ad spends in terms of percentage of TIO show a slow linear decline as indicated by the broken maroon line in Fig A.

    public://TITAN-AD.jpg

    Company Speak

    Titan Managing Director Bhaskar Bhat said, “This was an extremely good quarter for the Company with respect to profits. All businesses of the company recorded profits in the quarter. The Jewellery business had an extremely good studded jewellery activation and the Watches business launched its second smart watch, Juxt Pro. All our retail channels grew. The festive season has commenced very well. For the Dussehra to Diwali festive period, Tanishq registered a growth of 39 percent over last year. In watches, for the same period, our World of Titan stores grew by 14 percent and Helios stores by 11 percent in retail sales.”

    Note:(1)Titan has started reporting its numbers as per the Indian Accounting System (IND AS) since Q1-17 and hence the numbers in the charts may not be accurate – this report and the charts are meant as an approximate representation of the company’s numbers.

    (2) The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • Hari Krishnan is new Lowe Lintas president – South

    Hari Krishnan is new Lowe Lintas president – South

    MUMBAI: Lowe Lintas has announced that Hari Krishnan is the new president of its South operations. This appointment comes on the back of GV Krishnan’s recent exit.

    To be based out of Bengaluru, his remit includes the agency’s offices in Bengaluru, Chennai and Hyderabad. As the largest creative agency in South region, the portfolio includes over a 100 clients and brands such as Arvind, Britannia, Fastrack, Flipkart, Gold Drop, Hike, ITC Foods, MRF, Mobizz, Paperboat, Sonata, Tanishq, TI Cycles, TVS Motors and many other companies and brands.

    Krishnan, currently CEO of MullenLowe’s operations in Sri Lanka is in the process of transitioning into his new role.

    He had joined MullenLowe early 2015 from Grey India where he was heading their South operations.

    Hari has about 20 years of experience in the advertising and media industry; having spent most of it between Lowe Lintas, JWT, Star TV and Grey.

    Commenting on his move, MullenLowe Lintas Group, India Group CEO Joseph George said:“Hari has done an incredible job in Sri Lanka almost transforming our operations there overnight. Going by his track record across the agencies he has worked in, he is just the right person we need to build on the fantastic momentum that the South operations of Lowe Lintas have achieved over the past 3-4 years in terms of creative product and new business acquisition. Both of which, Hari is rabidly passionate about.”

    Hari Krishnan too added, “This is a homecoming of sorts for me since my association with Lowe Lintas almost 18 years ago started in the Bengaluru office. The India operations of Lowe Lintas has been on an unbelievable roll the past few years and my mandate is clear. The talent in our 3 offices in the South, especially the creative fire-power under Rajesh Ramaswamy’s leadership is just reassuringly and intimidatingly brilliant. Can’t wait to get started!”

    Speaking of succession for MullenLowe Sri Lanka, Joseph George said, “Our Sri Lanka operations are in a sweet spot thanks to all the efforts made in the past 18 months under Hari’s leadership and some fantastic clients. And we are perfectly poised to build on from here; which is why Hari’s replacement for the Sri Lanka CEO’s role is crucial; and so I am very pleased with whom we have found. The announcement will take place in a few days.”