Business
IDC announces appointment and strategic initiatives
IDC Board of Directors confirms the Company's strategic direction and appoints Mr. Swapan Kakuman...
About this update from Imaging Dynamics Company, Ltd.
[{"type":"text","content":"\n\n\n\nIDC Board of Directors confirms the Company's strategic direction and\nappoints Mr. Swapan Kakumanu to the position of Executive Vice President\nand Chief Financial Officer\n\n\nCALGARY, July 2 /CNW/ - Imaging Dynamics Company Ltd. ("IDC") (TSX: IDL),\nthe global leader in the rapidly growing market for digital radiography ("DR")\nis pleased to announce that the Board of Directors (the "Board") and the\nmanagement team of the Company recently concluded a strategic session to\nreview the restructuring plan that was initiated during the third quarter of\n2008. The Board provided feedback and advice to the management team for the\nstrategic direction of the Company for the next twelve to eighteen months and\nconfirmed that the Company is on the right path for Profitable Growth and\nIndustry Leadership. In addition, the Company announces the appointment of\nSwapan Kakumanu to the position of Executive Vice President with expanded\noperational and geographic responsibilities, in addition to his current\nposition of Chief Financial Officer of the Company.\n\n\nJerry C. Cirino, Chairman of the Board, stated, "We are confident in our\nbusiness fundamentals as demonstrated by the continued improvements in the\nbalance sheet, implementation of sound operational and business processes and\nstrengthening the competitiveness of our CCD based digital radiography\nplatform; that IDC is well positioned to take advantage of the pending\neconomic upturn as it occurs. We believe that the management team has clearly\ndemonstrated their ability to lead the Company through this challenging\neconomic environment and has positioned the Company to achieve it objectives\nof profitable growth in the near term."\n\n\nContinued Mr. Cirino, "We are confident that IDC will continue to expand\nits presence in the emerging markets where we see good growth opportunities.\nIn addition, the Company is solidifying its channel position in the North\nAmerican markets where we see the potential for modest recovery during the\nsecond half of 2009."\n\n\nThe Board has asked the management team to evaluate restarting the\nCompany's patented CCD optically coupled technology for the high growth and\nprofitable digital mammography market segment. The Board and management team\nwill also investigate strategic options ...