Supponor, the sports advertising technology company, has announced Sir Martin Broughton as its new chairman.

He replaces Matthew Wheeler, who is stepping down after almost seven years in the post.

Sir Martin joins the board as the company brings in a new round of investment representing over £3.9m.

Supponor pioneered and is the clear market leader in delivering virtual replacement technology of TV-visible signage for real-time broadcast and streaming of in-venue sports advertising

Sir Martin is a former Chairman of British Airways, former Deputy Chairman of the International Consolidated Airlines Group (IAG) and President of the Confederation of British Industry (CBI).

His myriad business successes have often involved sports.

During his tenure as Chairman of Liverpool Football Club, he secured the club’s financial future by expediting a sale to the current owners.

Whilst Chairman of British American Tobacco, he oversaw the formation of the BAR Formula One racing team and, as Chairman of the British Horseracing Board, he was responsible for that organisation’s restructure into a regulatory board.

Sir Martin is currently a partner at Sports Investment Partners, which has acted both as an advisor and investor in Supponor.

James B Gambrell, CEO of Supponor, said: “We are extremely grateful to Matthew Wheeler for his committed leadership during his tenure as Chairman while Supponor commercially launched as the leading virtual advertising technology solutions provider to live, Tier 1 Sports.

“I could not think of anyone better than Martin to take over from Matthew to lead Supponor as it expands globally to capture the rapidly growing market adoption of Supponor’s virtual technologies.

Martin’s unsurpassed business acumen, extensive industry contacts and understanding of the sports market will help challenge us to deliver real value for all of our partners and customers.”

Sir Martin said: “Having been involved with the Supponor team for some time and knowing the opportunities in the sports rights and broadcast markets, the potential for the company’s highly innovative technology solutions are impossible to miss.

I am excited to step up my active involvement in this rapidly developing area of the sports industry and to contribute to Supponor’s future success.”