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Pason Announces Leadership Succession

Pason Announces Leadership Succession Canada NewsWire CALGARY, AB, July 22, 2020...

articlePason Systems Inc.July 22, 20203/company/pason-systems-inc/news/pason-announces-leadership-succession
Pason Announces Leadership Succession

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[{"type":"text","content":"\n\n\n\nPason Announces Leadership Succession\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, AB, July 22, 2020\n\n\n\nJames D. Hill to retire as Chair of the Board of DirectorsMarcel Kessler to retire as President and Chief Executive Officer and serve as Chair of the Board of DirectorsJon Faber appointed as President and Chief Executive OfficerDavid Elliott appointed as interim Chief Financial Officer CALGARY, AB, July 22, 2020 /CNW/ - Pason Systems Inc. (TSX: PSI) (\"Pason\" or \"the Company\") announced today a number of changes to its senior management team and board of directors, aligned with the Company's long-term succession plan, to take effect on October 1, 2020.\nJames D. Hill will be retiring as Chair of the Board of Directors.  Mr. Hill acquired Pason in 1987 and the Company went public in 1996. Under his leadership, Pason developed revolutionary new products, including the PVT and EDR, which remain core to the Company's offering to this day. Mr. Hill led Pason as President and CEO until 2011. Pason's Board of Directors, management and employees would like to thank Mr. Hill for his invaluable contributions and leadership in building Pason over the past 33 years.\nMarcel Kessler, Pason's current President and Chief Executive Officer, has announced his retirement effective October 1, 2020 and will succeed Mr. Hill as Non-Executive Chair of the Board.  Mr. Kessler has served as Pason's President and CEO since 2011. Under his leadership, the company entered promising new markets and partnerships, successfully launched new products, skillfully navigated industry downturns, and returned $500 million to shareholders through dividends and share repurchases.\nPason's Board of Directors has appointed Jon Faber to succeed Marcel Kessler as President and CEO. Mr. Faber joined Pason as Chief Financial Officer in 2014. Over the past six years, in addition to the finance function, Mr. Faber has successfully led supply chain, IT and important elements of software development. \"I feel confident that with our passionate employees und...

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