Allen-Vanguard announces management consolidation

About this update from Verisante Technology, Inc.

[{"type":"text","content":"\n\n\n\nOTTAWA, July 9 /CNW Telbec/ - Allen-Vanguard Corporation (TSX: VRS)\n("Allen-Vanguard" or the "Company") of Ottawa, Canada today announced a\nconsolidated management structure under which the position of Chief Operating\nOfficer (COO) has been made redundant.\n\n\nThe Company established the position of COO in January, 2008, to\nfacilitate the integration of its acquisitions. "This was a critical role\nduring a period when the company also had a challenging public company agenda\nthat could have been highly distracting to operations," said David E. Luxton,\nPresident and CEO. "With integration now substantially complete, we are\nreverting to a more conventional, simplified structure with operational\ncontrol under the CEO."\n\n\nThe Company added that plans for fiscal 2010 are currently being\nfinalized and that this was the right time to adjust its senior executive\nstructure. "We appreciate the seasoned leadership Bob Adams brought to\nAllen-Vanguard in his year and a half as COO during a challenging transition\nperiod," said Mr. Luxton. "He has left the company with a coherent operating\nstructure and delivery capability to build on from here."\n\n\nForward-Looking Statements\n\n\nThis press release may contain forward-looking statements, which reflect\nAllen-Vanguard's current expectations regarding future events, its strategy,\nexpected performance and condition. Forward-looking statements include\nstatements that are predictive in nature, that depend upon or refer to future\nevents or conditions, or that include words such as "expects," "anticipates,"\n"plans," "believes," "estimates" or negative versions thereof and similar\nexpressions. In addition, any statement that may be made concerning future\nperformance, strategies or prospects, and possible future acquisitions or\ndispositions, is also a forward-looking statement. Forward-looking statements\nare based on current expectations and projections about future events and are\ninherently subject to, among other things, risks, uncertainties and\nassumptions about the Company and economic factors. Forward-looking statements\nare not promises or guarantees of future performance, and actual events and\nresults could differ materially from those expressed or i...

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