Business
IDC Board of Directors announces changes to executive leadership
CALGARY, Nov. 14 /CNW/ - The Board of Directors of IDC (Imaging Dynamics Company Ltd.) (TSX:IDL) ...
About this update from Imaging Dynamics Company, Ltd.
[{"type":"text","content":"\n\n\n\nCALGARY, Nov. 14 /CNW/ - The Board of Directors of IDC (Imaging Dynamics\nCompany Ltd.) (TSX:IDL) today announced that in response to the Company's 3rd\nquarter results, it is reorganizing the Company's executive leadership to meet\nthe growing operational demands of the organization. Mr. Darryl Stein will\nstep down as CEO effective December 31st, 2007. He will retain the position of\nPresident with responsibility for global sales and strategic planning.\n\n\nThe Board has created a Special Operating Committee of the Board through\nthis transition and will conduct an executive search for CEO. The committee,\nconsisting of: Mr. Jerry C. Cirino, Chairman, Rich Barno, Director and John\nCooper, Director; will work closely with Mr. Stein and the IDC executive\nmanagement team of Mr. Mike Shannon, Senior VP of Operations, Mr. Swapan\nKakumanu, CFO, Mr. Robin Winsor, CTO, and Ms. Landis Jackson, Human Resources\nDirector on identified improvement initiatives.\n\n\nMr. Karim Teja, who formerly held the positions of CFO and COO for IDC,\nwill re-join the company as a consultant on a short-term contract basis to\nassist the Board during the transition period.\n\n\nAccording to IDC Board Chairman, Mr. Jerry C. Cirino, "This\nreorganization will enable IDC to maximize our unique strengths in technology\nand sales, while allowing the company to appoint a CEO who can accelerate the\npace of operational improvements that is already underway and improve our\noverall performance." Cirino added, "Mr. Stein has been instrumental in\nestablishing IDC in the radiography market and will continue to manage our\ngrowth strategies and sales initiatives."\n\n\n"The Company has reached a point that demands dedicated management in\nboth operations and growth." said Mr. Darryl Stein. "I believe that our recent\n'large scale' successes in North America, Latin America and the Middle East\nrepresent global opportunities for the Company. These opportunities require\nincreasing amounts of management time and focus. We continue to strengthen the\norganization internally, and I look forward to working with the Board and with\nmanagement in taking the Company to the next level."\n\n\nAs previously announced in a November 11, 2007 press release, IDC will\nhold a conference call on Thursday, November 15 at 8:00 a.m. E...