Frontier Digital Ventures Limited (FDV), a leading owner and operator of online classifieds marketplaces in fast-growing emerging regions, has announced key changes to its board and management, effective immediately. The company operates across three regions – 360 LATAM, MENA Marketplaces Group and FDV Asia, working alongside local management teams to provide strategic oversight and operational guidance. Patrick Grove has been appointed as Executive Chairman, while Lucas Elliott has been named Executive Director.
Shaun Di Gregorio will continue as Chief Executive Officer until November 30, 2025, after which he will transition to the role of Non-Executive Director. The board has expressed its gratitude to Mr. Di Gregorio, a co-founder of the business, for his leadership and vision since the company’s inception. The company intends to put forward an equity incentive plan for both Patrick Grove and Lucas Elliott for shareholder approval.
Patrick Grove and Lucas Elliott will collectively receive a base fee of A$50,000 per month, subject to annual review, and will waive their director’s fees as current board members. Either party or the company may terminate the executive relationship with six months’ written notice. In the event the proposed equity plan does not receive shareholder approval, either party may terminate the executive relationship with immediate effect.
“I am excited to step into the role of Executive Chairman alongside Lucas Elliott as Executive Director,” said FDV Executive Chairman Patrick Grove. “Together we will continue to drive FDV’s mission of building and scaling leading digital marketplaces in frontier markets globally. On behalf of the Board, I also thank Shaun for his outstanding leadership since FDV’s inception and look forward to his continued contribution as Non-Executive Director.”
