COGNICASE Expands its Board of Directors
SEPTEMBER 21, 1999
MONTREAL, QUEBEC, CANADA--(NASDAQ: COGI) Reflecting its commitment
to sustained, profitable growth, COGNICASE Inc. has added four new
members to its Board of Directors to support management in mapping
the Company's strategic orientations.
Three of the new directors-Messrs. Bruno Ducharme (Telesystem
International Wireless Inc.), Hasanain Panju (CINAR Corporation)
and Claude Boivin (Ontario Blue Cross/Quebec Blue Cross)-are
executives of leading corporations in high-growth industry
sectors. The Right Honourable Brian Mulroney adds a new dimension
to the COGNICASE Board with his extensive network of high-level
international contacts and directorships.
"The strengthening of the Board is consistent with the rapid
emergence of COGNICASE as one of Canada's leading information
technology companies and our expanding presence in North America
and Europe," said Mr. Ronald Brisebois, President and Chief
Executive Officer of COGNICASE. "The new members will contribute
significant expertise and insight related to information-intensive
sectors, as well as a global outlook that will be highly valuable
to management." Mr. Brisebois noted that COGNICASE has grown from less than 200
employees and revenues of US$7 million to over 2,700 professionals
and an annual revenue run rate of US$185 million in less than two
years, while maintaining strong profitability and building a solid
organization for continued growth. "Management has received
precious support from the existing Board members who have seen the
scope of their responsibilities increase in line with our
remarkable growth," he added. "I thank our existing directors for
their exceptional dedication to COGNICASE and count on their
ongoing support as members of an expanded Board." New Directors
Mr. Mulroney was Prime Minister of Canada from 1984 to 1993. He
is presently Senior Partner at the law firm Ogilvy Renault. He is
a director of several major public companies, including Barrick
Gold Corporation, TrizecHahn Corporation, Quebecor Inc. and
Quebecor Printing Inc. Mr. Mulroney is also a member of the
international advisory councils of several major international
corporations, charities and educational institutions in Canada,
the United States, Europe and Asia.
Mr. Ducharme, MBA, is President and Chief Executive Officer of
Telesystem International Wireless Inc. (TIW), a global wireless
telecommunications operator with activities in 12 countries, and
Executive Vice-President of Telesystem Ltd. He is also a director
of Teleglobe Inc. and MDSI Mobile Data Solutions Inc.
Mr. Panju, CA, is Senior Executive Vice-President and director of
CINAR Corporation, an integrated entertainment and education
company. He is also a director of CAFA Capital Inc.
Mr. Boivin, CA, is President and Chief Executive Officer of the
Ontario Blue Cross/Quebec Blue Cross, leading health insurers. About COGNICASE
COGNICASE, one of the largest Canadian information technology (IT)
companies, is an international provider of value-added business
solutions and specialized software. It has more than 2,700
professionals serving customers from business offices in 20 cities
in North America, Europe and Australia. COGNICASE offers a full
range of global IT solutions, including complete and partial
outsourcing, Web/E-commerce development, platform migration, ERP
implementation, client/server application development, network
architecture and management, and software for automated Internet
application development and conversion.
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
(US), which involve risks and uncertainties. As a result of a
number of factors, including factors that the Company may not
currently foresee, the Company's actual results could differ
materially from those set forth in the forward-looking statements.
Certain other factors that might cause the Company's actual
results to differ materially from the forward-looking statements
include the Company's ability to (i) successfully develop
additional products and services and new applications for its
existing products and services and otherwise respond to rapid
changes in technology, (ii) successfully compete in its industry
for customers and developers and other personnel with expertise in
information technology, (iii) successfully identify and consummate
acquisitions on favourable terms and integrate acquired
businesses, and (iv) successfully manage its growth and changing
business, as well as those factors set forth under the heading
"Risks and Uncertainties" in its 1998 annual report. |
