Genesis Worldwide Announces Appointment of New ...

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[{"type":"text","content":"\n \n\nFOR: GENESIS WORLDWIDE INC.\n\nTSX, AIM SYMBOL: GWI\n\nSeptember 4, 2008\n\nGenesis Worldwide Announces Appointment of New Chief Financial Officer\n\nMISSISSAUGA, ONTARIO--(Marketwire - Sept. 4, 2008) - Genesis Worldwide Inc. (\"Genesis\" or the \"Company\"),\n(TSX:GWI)(AIM:GWI), a leading provider of \"green\" structural building technology using light gauge steel aimed\nat the residential, commercial and institutional building markets, is pleased to announce the appointment of\nGregory Kent, aged 38, as the new Chief Financial Officer of the Company. Mr. Kent succeeds Paul Kroetsch, aged\n49, who has decided to pursue other business opportunities. The Company would like to thank Mr. Kroetsch for\nhis contributions over the past two years and wish him well in his future endeavors.\n\nCFO Appointed\n\nMr. Kent has held various senior finance positions with multinational, high growth companies in the software\nand manufacturing industries. His most recent position was Vice President, Finance at Redknee Inc., an\ninternational telecommunication software and services provider, which is listed on the Alternative Investment\nMarket (AIM) of the London Stock Exchange. Mr. Kent is a Chartered Accountant and a graduate of Queen's\nUniversity with a Bachelor of Commerce (Honours) degree. Mr. Kent has over 16 years of finance experience\nincluding capital market and debt fund raising, business process design/reengineering, and establishing\ninternational business arrangements and legal entities.\n\n\"We are very pleased that Mr. Kent has joined Genesis Worldwide. Mr. Kent brings to Genesis a wealth of\nexperience which will make him an invaluable addition to our senior management team,\" said Vince Mifsud,\nPresident and Chief Executive Officer of Genesis Worldwide. Mr. Mifsud added that this is not a Board\nappointment for Mr. Kent.\n\nMr. Kent was granted stock options on September 2, 2008, exercisable for 100,000 Common Shares of Genesis, at\nan exercise price of Cdn. $0.85, vesting at 25% on each of the first, second, third and fourth anniversary of\nthe grant date, and expiring ten years from the grant date.\n\nDirector Resignation\n\nThe Company also announces a change to the Board with the resignation of William Assini, a director of the\nCompany, effective August 22, 2008. Mr. Assini has decided to pursue other business int...

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