Business
Clarke Inc. Expands Management Team
HALIFAX , June 12, 2014 /CNW/ - Clarke Inc. ("Clarke" or the "Company") (TSX: CKI) today ...
About this update from Clarke Inc.
[{"type":"text","content":"\n\nHALIFAX, June 12, 2014 /CNW/ - Clarke Inc. (\"Clarke\" or the \"Company\") (TSX: CKI) today announced that George Armoyan will step down as President and Chief Executive Officer and will remain actively engaged in the Company's growing business as Executive Chairman of Clarke. Michael Rapps, a current director of Clarke, has been appointed President and Chief Executive Officer of Clarke. These changes, effective July 2, 2014, have been made in order to build on the Company's positive operating and financial performance in recent years. \n\nMichael Rapps has been a director of Clarke since May 2012 and has been involved in many of Clarke's investments since that time, including as a director of Bonnett's Energy Corp., Supremex Inc. and Royal Host Inc. Prior to his appointment, Mr. Rapps was the Managing Director of Geosam Capital Inc., a private investment company, and prior to that practiced corporate law at Davies Ward Phillips & Vineberg LLP. \n\nGeorge Armoyan commented: \"Clarke has experienced an amazing transformation since 2012, resulting in significant shareholder value growth. We are committed to continuing our focus on increasing book value per share and creating shareholder value.\" Mr. Armoyan continued: \"We believe that Michael is an excellent person to lead Clarke into the future. Michael is a proven leader, has experience managing several companies successfully and has a great passion and vision for Clarke that is based on growing the Company's intrinsic value per share through selective investments. Together with the rest of Clarke's management team, Clarke is in very capable hands.\"\n\nMr. Rapps added: \"It has been a great pleasure to act as a director of Clarke for the last few years. Clarke has a great management team in place that will serve shareholders very well. I look forward to working with George and the Company's other directors and management as we continue to grow Clarke and add value for all shareholders.\"\n\nFollowing Mr. Rapps' appointment, Clarke's management team will consist of Michael Rapps, President and Chief Executive Officer, Andrew Snelgrove, Chief Financial Officer, Dustin Haw, Vice President of Investments, and Kim Langille, Vice President of Taxation.\n\nClarke is also pleased to announce that the following individuals were elected to act as directors of Clarke at the Compa...