Netcapital Inc. announced the appointment of Company director Martin Kay as Chief Executive Officer, effective January 3, 2023. In addition, the Company also announced that Dr. Cecilia Lenk, CEO of the Company since 2017, will assume the position of CEO of Netcapital Advisors Inc., the Company's wholly-owned subsidiary. The appointment comes at a timely moment for the Company, as the current economic landscape has many investors reevaluating their portfolios and exploring alternative investment opportunities.

Specifically, continued growth in demand among retail investors for exposure to startups and private capital markets more broadly has placed a premium on services provided by the Company, as well as prompted a need for more mature scalability, operations, and connections across the startup, advisor, and investor communities. Martin Kay joined the Company's board of directors in May 2022, after three decades as a successful leader, investor, advisor, and operator in early-stage digital ventures, including the original napster. Most recently Mr. Kay was a Managing Director with Accenture Strategy, where he led growth engagements for corporate clients and private equity firms. He is a co-founder of Accenture BLOOM, a digital strategy practice that invents, incubates, and scales new growth opportunities in partnership with clients.

He was also the global Strategy lead for Accenture's “Cloud First” program, driving innovation, growth, and digital transformation with cloud technologies. Mr. Kay began his career at Bain & Company, where he filled roles of increasing responsibility to become a Partner and lead the global Telecom, Media, and Technology practice. Mr. Kay holds an MA in Physics from Oxford University and an MBA from the Stanford Graduate School of Business.