Statement from Matt Handbury in relation to Hubbed

Matt Handbury contacted me over the weekend and provided this statement in relation to Hubbed:

Hubbed: Setting the record straight

In response to speculation about the operational performance and governance arrangements at Hubbed, I feel it is in the best interests of the newsagent community
to provide some much needed clarity around these issues.

First, I can confirm that I have resigned as a director of Hubbed, and that my substantial investment as a shareholder is yet be repaid.

Given that legal proceedings are pending, I do not wish to comment further on this issue, other than to say I no longer have confidence in the management of the company. My involvement with the board and management of Hubbed has come to an end.

My experience with Hubbed has deepened my conviction that harnessing the power of e-commerce will provide significant and sustainable new revenue streams for newsagents. It can also greatly enhance newsagents’ services to customers and the publishers and e-retailers they serve. I am determined to bring this to reality and you will be hearing from me in the coming weeks.

All newsagents, both those already dealing with Hubbed and those considering how to embrace e-commerce in their business, can rest assured that their interests will be served and their expectations and ambitions more than met.

Matt Handbury
Executive Chairman
Murdoch Media Pty Ltd

I am publishing this statement with Matt’s permission.

The ANF and other newsagent associations have been provided this statement.

I originally published this post yesterday, March 16. I reset it this morning as the content is important and blog traffic on a Monday is 1,300+ visitors whereas on a Sunday it is usually between 650 and 800.