Triller Group has appointed Kevin McGurn as its new Chief Executive Officer, effective November 2024.
McGurn brings extensive experience in media and entertainment to the role. His appointment comes as part of a broader transformation initiative at Triller Group, which recently began trading on the NASDAQ following its merger with Hong Kong-focused financial services company AGBA Group Holding.
Triller, which now trades under the symbol IILR, slumped 22.7% on the first day of its trading on October 16.
The incoming CEO’s track record includes positions at major digital media companies. At Vevo, the Universal Music and Sony Music Entertainment joint venture, McGurn served as President of Sales and Distribution, where he led the company’s expansion as a global music television network.
He previously held senior roles at Hulu, where he helped build the sales team from scratch and generated over $500 million in advertising revenue. At Fullscreen and Otter Media Companies, McGurn developed revenue streams throughout the creator economy.
“The future is bright in the world of entertainment, and I am extremely excited to join the team at Triller Group to maximize our value to Creators, Fans, and Brands.”
Kevin McGurn, Triller
McGurn also served in an executive role for T-Mobile’s marketing division.
“The future is bright in the world of entertainment, and I am extremely excited to join the team at Triller Group to maximize our value to creators, fans, and brands,” McGurn said.
“Our renewed focus means Triller Group is well positioned to deliver best in class entertainment, when, where and how our fans watch it. We will continue to build from our strong roots in vertical video, music and sports, and optimize our expertise in mobile and connected television.”
Bob Diamond, Chairman of the Board, said, “Kevin’s extensive experience and track record of driving growth and innovation position him uniquely to lead the company and carry out our shared vision of a single, integrated platform that delivers for creators, brands and users while generating value for all of our stakeholders.”
In addition to McGurn’s appointment, Triller Group announced two other significant leadership changes. James McCann, founder and former CEO of 1-800-Flowers.com, has joined the board of directors and will serve as Chairman of the Nominations Committee. McCann brings over four decades of leadership experience and currently serves as Chairman of Willis Towers Watson‘s board and as a director for Scott’s Miracle-Gro and International Game Technology PLC.
Meanwhile, former Triller CEO Bobby Sarnevesht will transition to a board position. He will contribute his operational knowledge and entrepreneurial experience to guide the company’s strategic direction, Triller Group said in a statement.
Triller hinted at plans to unveil additional leadership appointments during its upcoming investor and media event scheduled for November.
The newly-merged Triller Group operates two main businesses: the US-based social media platform company Triller Corp., and AGBA, which offers financial services and healthcare products through a tech-led ecosystem serving over 400,000 customers.
The company’s merger and NASDAQ debut followed a string of lawsuits against Triller over non-payment of licensing fees for music on its platform, including disputes with major record labels Sony Music and Universal Music Group. The Sony Music lawsuit, which alleged unauthorized use of music content, reached a settlement in 2023.
Earlier this year, the company reported it owed $23.6 million in outstanding licensing fees to various rightsholders.
As part of the merger agreement approved by shareholders in September, Triller Group has allocated 50 million shares to address “future settlement of certain Triller legal and financial obligations.” Based on the company’s closing price of $3.63 on Monday (October 21), these shares are valued at approximately $181.5 million.
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