MSGi Appoints Rudy Howard as Chief Financial Officer
NEW YORK, Feb 7, 2000 (BUSINESS WIRE) -- Marketing Services Group, Inc.
(Nasdaq: MSGI), an Internet and integrated marketing services industry leader,
today announced the appointment of Rudy C. Howard, 42, to the post of Chief
Financial Officer.
"Rudy Howard's extensive financial and public market, as well as M&A experience
will be an important cornerstone in MSGi's financial and strategic endeavors,"
commented Jeremy Barbera, Chairman and CEO of MSGi. "Rudy has built significant
relationships within the investment banking community and his expertise in
leveraging financial resources positions us to successfully execute our strategy
of building, investing, acquiring and incubating promising e-businesses. I look
forward to having him on our management team." Rudy Howard was recruited by
OmniOptions.com, a leading Silicon Alley executive search firm.
Simultaneously, Cindy Hill, 30, MSGi's Chief Financial Officer since June 1998,
will become Chief Accounting Officer, overseeing the Company's day-to-day
accounting operations and SEC compliance. Ms. Hill is a CPA, who began her
career at PricewaterhouseCoopers. Both appointments are effective February 15th.
Mr. Barbera stated, "Cindy Hill has been and will continue to be an integral
part of our management team. When Cindy initially came on board, MSGi was a $24
million Company with only three subsidiaries and we were just beginning our
acquisition strategy. She has helped grow the Company to revenue of $110 million
on a proforma basis, with seven subsidiaries, excluding the upcoming acquisition
of Grizzard Communications, which will bring MSGi to a revenue run rate of
nearly $200 million. Given the rapid growth of MSGi, Cindy and I have chosen to
create this new position which will allow her to focus on integrating the
financial systems and procedures of the Company."
Cindy Hill stated, "I am looking forward to the challenging opportunity that
this new position will allow me. I am excited to continue to work with Jeremy
and welcome the experience and expertise Rudy Howard will bring to MSGi."
Mr. Howard commented, "I'm thrilled to be joining a dynamic organization like
MSGi. The combination of significant experience in traditional marketing
services and cutting-edge Internet technologies places the Company in a unique
position as we approach the advent of the Internet and e-commerce explosion. As
competition envelops e-commerce players, MSGi will be the leader in innovative
technological and marketing solutions. I am looking forward to being a part of
the MSGi team."
Prior to joining MSGi, Mr. Howard served for four years as Chief Financial
Officer of Pharmaceutical Product Development, Inc. (PPD), a research and
development services provider to pharmaceutical and biotechnology companies. At
PPD, Howard was integral in all aspects of the company's merger and acquisition
program, which included price negotiation, due diligence and integration plans
on 14 key acquisitions. These acquisitions increased the company's revenue base
from approximately $40 million to over $325 million and positioned the company
for organic growth of over 30% annually. Howard also gained significant
experience in financing, investor relations and was critical in the company's
initial public offering process.
Previously, Howard was a Partner with PricewaterhouseCoopers, culminating over a
decade of public consultancy experience as a senior manager with both PWC and
Deloitte & Touche. As a management consultant, Howard was involved in over forty
mergers and acquisitions, providing assistance in valuation, price negotiations,
transaction structuring, accounting and SEC reporting. He also provided
expansion and earnings improvement analysis, asset/liability management, as well
as debt and equity issuance, public reporting, lender and investor services.
Howard, a Certified Public Accountant since 1981, received his Bachelor of Arts
in Accounting from North Carolina State University in 1979. He currently sits on
the Board of Directors for several organizations, including the Cystic Fibrosis
Foundation of North Carolina, and the Coastal Entrepreneurial Council.
About MSGi
Marketing Services Group, Inc. is a leader in the Internet and integrated
marketing services industries. MSGi's revenues have grown from $16 million in
fiscal 1996 to in excess of $100 million on an annualized basis. GE Capital is
the owner of an 18 percent stockholder position in MSGi and CMGI is the owner of
a 10 percent stockholder position in MSGi.
MSGi is organized into two business divisions: The Internet Group and The Direct
Group. The Internet Group's mission is to acquire, invest in and incubate
Internet companies. Its preliminary focus is on WiredEmpire, and its Marketing
Agent technology. MSGi plans to expand into other strategic areas. The Internet
Group provides Internet marketing, e-commerce applications, Web development and
hosting, online ad sales and consulting. The Direct Group provides strategic
planning, direct marketing, database marketing, telemarketing, telefundraising,
media planning and buying. Through this business segment, MSGi will continue to
grow by leveraging the synergies it has across all its companies in marketing,
technology, and capabilities.
Thousands of clients worldwide are provided services by MSGi, which has offices
throughout the United States and in London. Corporate headquarters are located
at 333 Seventh Ave., New York, NY 10001. Telephone: 917-339-7100. Additional
information is available on the company's Website: msginet.com.
Matters discussed in this release include forward-looking statements that
involve risks and uncertainties, and actual results may be materially different.
Factors that could cause actual results to differ are stated in the company's
reports to the Securities and Exchange Commission including its 10-Q for the
period ended September 30, 1999 and the annual report on Form 10-K for the year
ended June 30, 1999.
Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.
-0-
CONTACT: Marketing Service Group, Inc.
Jamie Karlin, 917/339-7100
jamie@msginet.com
or
Morgen-Walke Associates
Cheryl Olson
Press: Eileen King
212/850-5600
KEYWORD: NEW YORK
INDUSTRY KEYWORD: INTERNET
E-COMMERCE
COMPUTERS/ELECTRONICS
TELECOMMUNICATIONS
MANAGEMENT
CHANGES
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
Steve |
