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Timezone Designates Blume Managing Director And Restructures Board; Malcolm Steinberg Steps Down As Chairman

Posted On: 9/28/2016

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TAGS: Timezone, Malcolm Steinberg, Adam Steinberg, Timezone board, Scott Blume, Timezone group, amusement industry, family entertainment center, Sonaal Chopra

SINGAPORE -- Timezone founder Malcolm Steinberg has announced that he will step down as chairman, effective Oct. 3, and will be succeeded in the chairmanship by Adam Steinberg, his son who now serves as executive director. The elder Steinberg will remain on the board as founder and nonexecutive director. Joining the board is Scott Blume, who has been appointed group managing director.

Timezone Group, founded in 1978, operates family entertainment centers in Singapore, Australia, New Zealand, Indonesia, the Philippines and India. With more than 200 locations in six countries, it is the leading FEC chain in the Asia Pacific region. Sonaal Chopra is Timezone's highest-ranking operations official, and will continue to oversee the business as the group's chief executive.

Blume brings extensive experience in the travel and leisure industry to his new duties, including a previous role as managing director and group chief executive for online travel services titan wotif.com Holdings, an ASX 200 company with operations in Australia, New Zealand and key Asian markets. At Wotif, Blume undertook a strategic review that reset the business for future growth through 2013 and 2014, and then led the sale of the business to Expedia. Since then, he has been involved in a number of digital and technology startups. He will headquarter in Singapore.

Timezone said it is experiencing accelerating demand for its distinctive out-of-home entertainment delivered in a retail setting in the fast-growing middleclass consumer segment in Asia. Blume joins the group with a mandate to significantly grow and develop the chain's business across those markets.

Outgoing chairman Malcolm Steinberg observed that in the 38 years since the first Timezone center was established in Perth, Australia, "the potential and conditions for the business to grow have never been greater. It is part of human DNA to want to go out and socialize with friends and family, and our digital world cannot fully replace that."

Incoming chairman Adam Steinberg added that "it is incredibly exciting for the business to have someone of Scott's caliber and experience to lead and develop the aggressive growth strategy we have planned, and I am looking forward to working with him to achieve this objective."

Timezone, Scott Blume, Malcolm Steinberg, Adam Steinberg
NEXT PHASE: Scott Blume (l.) has been named group managing director and a board member of the Timezone Group, effective Oct. 3. At that time Adam Steinberg (c.), who presently is executive director, will succeed company founder Malcolm Steinberg (r.) as chairman. The elder Steinberg will become nonexecutive director. Sonaal Chopra continues as chief executive, overseeing all Timezone business operations.