Rapidly growing Web development company Spike has appointed former F.A.I Finance Director Timothy Mainprize as Group Finance Director ahead of an possible float later in the year.
In the new position, Mainprize will be second-in-command of the rapidly growing Internet firm, alongside CEO Chris O'Hanlon. The appointment comes at a sensitive time for the Spike with an IPO on the drawing board for later in the year.
Mainprize joins Spike after ten years at F.A.I. where he worked with Rodney Adler until earlier this year when the insurance company was taken over.
Mainprize said that his decision to join the company was influenced by watching it grow over the past two years.
"I have been following Spike's development for the past two years, and have been amazed at the phenomenal growth and success of the company," Mainprize stated. "I intend to make sure that its financial infrastructure is completely sound, and able to facilitate rapid growth, positioning it to attract capital from investors everywhere."
According to Mainprize another factor in the move was the potential of a Spike IPO, a proposition the company is currently discussing with Salomon Smith Barney.
"I think that the potential of an IPO was certainly a factor for me in joining the company. When companies start out they often don't have a lot of funding, but Spike has done a great job of building the business with limited resources.
"The IPO is just one option we're looking at the moment but if the IPO goes ahead, it will raise considerable funds allowing the company to institute new projects such Spike Radio and Spike Network."
