ChyronHego CEO to retire at year’s end

ChyronHego Corp. today announced that CEO Michael Wellesley-Wesley has informed the board of directors of his plans to retire as CEO after 10 years.

ChyronHego president and COO Johan Apel will succeed Wellesley-Wesley as CEO effective Jan. 1, 2014. Wellesley-Wesley will remain a member of ChyronHego’s Board of Directors.

“The recent completion of the combination of Chyron and Hego unites two pioneering companies to create a global leader in broadcast graphics creation, playout and real-time data visualization,” said Wellesley-Wesley in a statement issued by the company. “This is a truly transformative leap forward, and it presents an appropriate opportunity to define an orderly succession whereby the leadership responsibilities for the combined company transfer to Johan Apel. Johan is superbly well qualified to develop and execute the vision, the strategies and operating concepts for ChyronHego in ways that will allow us to simultaneously address the evolving needs of customers and the expectations of our shareholders.”

Wellesley-Wesley receives a base salary of $482,850 per year plus incentives and bonuses, according to industry blog Devoncroft.

“Michael Wellesley-Wesley has had a distinguished career, working tirelessly on behalf of ChyronHego’s customers, shareholders and employees to build a strategically focused company with a products and services portfolio shaped to meet the challenges of today’s media production environment with an increased emphasis on ‘live’ production tools and services,” said Roger Ogden, ChyronHego chairman, in the same statement. “Throughout his tenure, Michael and the board have focused on identifying and developing talent and assuring a high-quality succession plan as a cornerstone of good corporate governance. The board has every confidence in Johan’s ability to take the company forward and build shareholder value.”

Johan Apel has served as ChyronHego President and COO since May 2013. He previously served as chairman and CEO of Hego AB.