Final farewell to Photon as the company becomes Enero
One of the most controversial names in the media and marketing industry will vanish from the landscape tomorrow when Photon Group officially becomes Enero.
The company was once one of the fastest growing listings on the ASX. Chairman Tim Hughes and CEO Matt Bailey embarked on an acquistion spree that saw the share price soar although the company became loaded with debt and virtually open ended earnout commitments to founders of the companies they had bought.
The company then teetered on the brink of failure before being turned around by CEO Jeremy Philips who sold many of its businesses and reduced its debts to a manageable level.
Melhuish
Matthew Melhuish, co-founder of BMF which remains a Photon agency, has since taken over as CEO. In April he unveiled a simplified structure and the plan to rename the company Enero to distance it from the excesses of Photon.
Along with BMF, the companies within the $45m organisation include Naked Communications, Auspoll, BWM, City PR, Corporate Edge, CPR, Dark Blue Sea, Frank PR, Hotwire, Jigsaw, OBMedia, Precinct and The Leading Edge.
The Photon ASX code of PGA will be replaced tomorrow by Enero’s new code of EGG. Meanwhile, the organisation’s website has already switched to the new Enero brand.
Photon's eight year adventure on the ASX
Tim Burrowes founded Mumbrella in 2008. He worked on Mumbrella until 2021. At various points he was editor, content director and editor-at-large.
Linkedin
Enero means “mere” in Latin.
Interesting name to give a company that reach for so much and failed so many times with so many things.
User ID not verified.
Well, that’ll certainly fix things!
Sellafield, anyone?
User ID not verified.
is it just me or is that way too close to Enron to be comfortable?
User ID not verified.
follow the money, just like ENRON
User ID not verified.
Enero stands for January in Spanish, new year, new beginnings
User ID not verified.