Business
Pulse Data Inc. announces retirement of CEO, transition to new CEO
Pulse Data Inc. announces retirement of CEO, transition to new CEO.
About this update from Pulse Seismic Inc.
[{"type":"text","content":"\n\n\n\nTSX:PSD\n\n\nCALGARY, May 17 /CNW/ - Ken MacDonald, President, CEO and a director of\nPulse Data Inc. ("Pulse" or "the Company"), will retire as an officer of Pulse\nand will not stand for re-election to the board of directors at the company's\nannual general meeting on May 22, 2007, Pulse's chairman announced today.\n\n\n"On behalf of the board of directors, the management team and all the\nemployees of Pulse, I commend Ken for the tremendous job he has done in\ngrowing Pulse over the past 20 years," said Clark Zentner, chairman of the\nboard of Pulse. "Ken leaves the company in excellent financial and operating\nshape, and has worked with us to provide for an orderly management transition.\nAll of us wish Ken the very best in retirement."\n\n\nKen MacDonald retires after a 35-year career in the geophysical industry,\nwhich included earning his P.Geoph. designation from APEGGA and working at\nseveral companies before acquiring Pulse with a partner in 1987. MacDonald\nplaced Pulse on a successful growth track, entering the public markets in 1999\nand, with the acquisition of Request Income Trust in January 2002, providing\nthe seismic library database and cash flow stream that elevated Pulse into\nWestern Canada's second-largest provider of seismic data.\n\n\n"Ken had the vision to understand when and how he could grow Pulse and\nprogress into being a major player in the seismic data library business," said\nClark Zentner. "Ken has the ability to make companies run more efficiently by\ngetting the right people doing the jobs that they're best at. He is adept at\nexecuting a scalable business model, which has been important in the cyclical\nenergy services industry."\n\n\n"I'm proud of the business model that we've developed at Pulse, which has\ndemonstrated itself to be a profitable cash-generating model over many years,"\ncommented Ken MacDonald. "But more than any business event, what I feel the\nbest about are the excellent people we have at Pulse, the reputation for\nintegrity they have within the business community and the pride they show in\nthe way they do their jobs."\n\n\nMacDonald plans to spend more time pursuing his passion for outdoor\nactivities. "I can think of no better time to retire than in a period when\nPulse continue...