ADX: TSX
TORONTO, Dec. 5 /CNW/ - The Board of Directors of Advantex Marketing International Inc. (TSX:ADX) today announced that G. Randall Munger has stepped down as Chairman and Chief Executive Officer and as a director of the Company. Kelly E. Ambrose, the President and Chief Operating Officer of the Company has been appointed Chief Executive Officer and President.
The Board wishes to thank Randall Munger, the founder of the Company, for his long-standing service and wishes him well in his new endeavours. Mr. Munger will remain as advisor to the Company for the next year, working with the CEO on strategic matters and key partnerships.
"The transition leading up to my departure began when Kelly joined Advantex a year ago. Kelly has done an excellent job as President and COO, and is ready to step into his new position," said Mr. Munger. "I am very proud of the legacy I leave behind. I would like to take this opportunity to thank all the people with whom I have worked over the past 23 years for their enthusiasm, hard work, and dedication. The Company is in capable hands and I look forward to its continued success."
"I've enjoyed working with Randall Munger and appreciate the opportunity I've had to learn this business from him before stepping into my new role," said Kelly Ambrose, Chief Executive Officer and President of Advantex. "The Company is making good progress towards its profitability objectives. We expect to continue delivering improved financial performance throughout fiscal 2007 and going forward."
About Advantex Marketing International Inc.
Advantex Marketing International Inc. is a leading marketing services company, specializing in Advance Purchase Marketing Programs for merchants, coalition loyalty rewards programs, and online shopping malls. Advantex loyalty partners include CIBC, United Airlines, Delta Air Lines, The New York Times, and other major North American corporations, as well as a growing list of restaurants, online retailers, golf courses, small inns and resorts. Advantex is a public company, traded on the Toronto Stock Exchange under the symbol "ADX". For additional information on Advantex, please visit www.advantex.com.
This press release contains certain forward-looking statements relating, but not limited, to the Company's expectations, intentions, plans and beliefs with respect to the financial performance of the Company. Forward-looking statements can often be identified by forward-looking words such as "anticipate", "believe", "expect", "goal", "plan", "intend", "estimate", "may" and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward looking statements are not historical facts but reflect the Company's current expectations regarding future results or events. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
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