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CALGARY, May 9 /CNW/ - The Board of Directors of Sylogist Ltd. (TSXV:SYZ) today announced initiatives aimed at driving shareholder value through focusing the Company on its core focus in financial, administrative and operational software systems and support while building on Sylogist's innovation in the public sector market. To accomplish this objective, the Board has appointed Jim Wilson, chairman, to take on the additional roles of president and chief executive officer, effective immediately.
Wilson has served the Company in various capacities over the past 7 years as Director, Chairman and CEO. He will be responsible for the overall strategic direction of the Company, with a predominant focus on driving shareholder value through generating improved cash flow and revenue growth. Dave Elder, vice president of corporate development, will work closely with Jim on growing the business scale through strategic acquisitions and partnering.
"I am enthusiastic about returning to the role of chief executive officer. At Sylogist we are committing ourselves to customer focused activities that will lead to value creation for all stakeholders along with the entrepreneurial risk-taking and innovation that spawns success," stated Wilson.
"On behalf of the Board and all Sylogist employees and customers, we would like to thank Werner Biegler, who is leaving the Company, for his numerous contributions. Werner was a passionate and tireless advocate and we wish him success in his future endeavors," concluded the Sylogist Board.
About Sylogist
Sylogist provides and supports leading enterprise information management and collaboration software applications to municipal, education and private sector customers.
The Company's stock is traded on the TSX Venture Exchange under the symbol SYZ. Information about Sylogist can be found at http://www.sylogist.com.
Forward-looking statements: This press release contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and Sylogist's capability to execute and implement its future plans. Actual results may differ materially from those projected by management.
Although Sylogist believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Sylogist can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and Sylogist undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
-The TSX-Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release -