Destiny Media Technologies Inc. Announces Leadership Transition

Rhea-AI Summary

Destiny Media Technologies (TSXV: DSY; OTCQB: DSNY) announced a leadership transition effective February 9, 2026. Fred Vandenberg stepped down as President and CEO to pursue other interests; Hyonmyong "Hoch" Cho, chairman of the board, is appointed interim CEO while a search for a permanent CEO is underway.

Vandenberg, with the company since 2004 and CEO since June 2017, will remain on the board and assist with the transition. Management says operational continuity will be maintained during the search.

Positive

• Interim CEO is existing Chairman, supporting leadership continuity
• Former CEO remains on board to assist transition
• CEO has 22 years with company, showing institutional knowledge

Negative

• Departure of CEO creates near-term leadership uncertainty
• Active CEO search may distract management during transition

Vancouver, British Columbia--(Newsfile Corp. - February 9, 2026) - Destiny Media Technologies Inc. (TSXV: DSY) (OTCQB: DSNY), the makers of Play MPE®, a cloud-based SaaS solution for digital asset management in the music industry, today announced that Fred Vandenberg has stepped down as President and Chief Executive Officer, to pursue other interests, effective February 9, 2026. The Company also announced that it has initiated a search to identify a new Chief Executive offer and has appointed Hyonmyong ("Hoch") Cho, who also serves as Chairman of the Board of Directors, to serve as interim-CEO.

Mr. Vandenberg joined Destiny Media Technologies in 2004 and was promoted to Chief Financial Officer in 2007, subsequently being promoted to Chief Executive Officer in June 2017. Mr. Vandenberg will provide assistance to the Company to support with the transition and will remain a member of the Board of Directors.

"On behalf of the entire board, we would like to extend sincere thanks to Fred for his hard work and dedication to the Company. We are grateful that Fred has agreed to make himself available to the Company while we are searching for a replacement. We wish him well in his future endeavors," said Hoch Cho, Interim CEO. "I plan to engage with our very capable operational team to ensure continuity as the Board undertakes a search for a permanent CEO."

"It has been a privilege to lead Destiny Media's growth over the last 21 years, growing Play MPE® revenue from an idea to the world's leading promotional distribution tool," said Fred Vandenberg. "I am very proud of the talented team we have assembled and what we have accomplished together. I would like to thank the Board for their support and I look forward to assisting in the transition and will be an enthusiastic supporter as Destiny Media continues to grow and develop."

About Destiny Media Technologies Inc.

Destiny Media Technologies ("Destiny") provides software as service (SaaS) solutions to businesses in the music industry solving critical problems in distribution and promotion. The core service, Play MPE®, provides promotional music marketing to engaged networks of decision makers in radio, film, TV, and beyond. More information can be found on the DSNY website.

Forward-Looking Statements

This release contains forward-looking statements that reflect current views with respect to future events and operating performance. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements. Destiny Media Technologies is not obligated to update these statements in the future. For more information on the Company's risks and uncertainties relating to those forward-looking statements, please refer to the Risk Factors section in our Annual Form 10-K for the fiscal year ended August 31, 2025, which is available on www.sedarplus.ca or www.sec.gov.

Contact:

Hyonmyong ("Hoch") Cho
Interim-CEO and Chairman
Hochc@dsny.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283317

FAQ

Who is serving as interim CEO of Destiny Media Technologies (DSNY) and when did the change take effect?

Hyonmyong "Hoch" Cho is interim CEO, effective February 9, 2026. According to the company, Cho will lead while the board conducts a search for a permanent CEO and work with the operational team to ensure continuity.

Did Fred Vandenberg leave Destiny Media Technologies (DSNY) completely after stepping down as CEO?

No, Fred Vandenberg remains on the board and will assist with the transition. According to the company, he stepped down as CEO to pursue other interests but will support the search and handover.

How long did Fred Vandenberg serve at Destiny Media Technologies (DSNY) before stepping down?

Fred Vandenberg joined in 2004 and served as CEO since June 2017. According to the company, his 22-year tenure included roles as CFO and CEO during Play MPE's growth.

Will Destiny Media Technologies (DSNY) search for a permanent CEO and what is the board's plan?

Yes, the board has initiated a search for a permanent CEO. According to the company, the board intends to engage the operational team and maintain continuity while evaluating candidates for the permanent role.

What immediate impact does the CEO transition have on Destiny Media Technologies’ operations and product Play MPE (DSNY)?

The company indicates operations will continue under interim leadership to minimize disruption. According to the company, the interim CEO plans to work with the operational team to ensure continuity during the leadership transition.