Innovid Corp. announced changes in its board of directors. Mr. Steven Cakebread has resigned for personal reasons and Mr. Brian Hughes has joined as a member of the Board to serve on the Audit Committee of the Board as Audit Committee Chair.

Mr. Hughes was elected as a Class I director of the Company for a term expiring at the annual meeting of shareholders in 2025 or until his earlier death, resignation or removal. Mr. Hughes, age 63, currently serves as a Director of Bentley Systems, CompoSecure Inc. and Omnilit Acquisition Corp. Mr. Hughes was previously an audit partner, the national private markets group leader, and venture capital co-leader at KPMG LLP where he worked from 2002 to 2019 and an audit partner at Arthur Andersen where he worked from 1981 to 2002.

Mr. Hughes received a Master's in Business Administration and a Bachelor of Science in Economics and Accounting from the Wharton School, University of Pennsylvania. Mr. Hughes was chosen to serve on the Board because of his financial expertise, extensive accounting, auditing and venture capital experience as well as his experience as a director and advisor of other companies.