As Function (X) ramps up for business, with its first mobile app due out later this year, the newest Bob Sillerman venture has named its board of directors.
First off, attorney Michael Burrows of Greenberg Traurig LLP has left the board. He was one of three directors named last week, along with Sillerman himself and Sillerman associate Mitchell Nelson. No reason was given for Burrows resignation.
CEO Janet Scardino has now been made a director as well. Outsiders newly named to the board are: Benjamin Chen, founder and CEO of Mochilla Inc.; Peter Horan, Executive Chairman of Halogen Network; John Miller, Chief Investment Officer of W.P. Carey & Co. (and also a director of another Sillerman firm, Circle Entertainment); Joseph Rascoff, co-founder of The RZO Companies; and Harriet Seitler, Exec. VP of Oprah Winfrey’s Harpo Studios.
Function (X) also filed its 2011 Executive Incentive Plan, which will make 30 million shares of stock available for options, restricted stock awards and other incentive compensation to company employees, consultants, officers and directors.
RBR-TVBR observation: There’s a lot of digital media expertise there. We would also note that Rascoff has music industry ties – he represents recording artists in contract negotiations. What does it all mean? We, like you, are waiting to see what Sillerman is up to.