RDM announces appointment of new President & CEO
RDM Corporation
Canadian Venture Exchange: RC
WATERLOO, ON, May 29 /CNW/ - RDM Corporation, a leading developer of
specialized software and hardware products for both Internet electronic
commerce and paper payment processing, today announced the appointment of
Michael Carr as the Company's new President & Chief Executive Officer.
"After six months of careful searching, RDM Corporation is very pleased
to announce the selection of our new CEO, Mr. Michael Carr," said RDM Chairman
Robert Nally. "Mr. Carr has a long, impressive track record in the technology
sector; his strong business background and strategic vision will greatly
facilitate our efforts to successfully bring new products to market."
For more than 20 years, Mr. Carr has worked in the technology industry in
both the United States and Canada. Most recently Carr served as Chief
Operating Officer of RAND Worldwide, a provider of knowledge-based solutions
to organizations with engineering design and information technology
requirements. Prior to RAND, Mr. Carr served as President of Balisoft
Technologies, an early stage Internet based software development company
focused on Internet customer service applications. Balisoft, founded by Mark
Skapinker (Delrina (WinFax)Corporation founder), merged with ServiceSoft
Technologies in Boston.
Prior to Balisoft, Mr. Carr spent 8 years with UB Networks Inc., a
multinational manufacturer and distributor of data communication products and
services, most recently as Vice President & General Manager, Americas
operations located in Santa Clara, California.
Michael Carr replaces Thomas A. Di Giacomo, who has assumed the role of
acting CEO in November 1999. On behalf of the RDM Board of Directors, Mr.
Nally wishes to thank Mr. Tom Di Giacomo for his contribution as acting CEO.
As part of Mr. Carr's compensation package, the Company has agreed to
grant Mr. Carr options to purchase up to 650,000 common shares at a price of
$2.88 per share. The options will be vested annually in equal installments
over a period of five years.
The Company has also adopted a new stock option plan ("2000 Plan") which
is subject to the approval of the Company's shareholders and the Canadian
Venture Exchange, Inc. ("CDNX"). The 2000 Plan entitles the Company to grant
options to purchase up to 2,572,467 common shares (inclusive of existing
options) and will run concurrently with the Company's existing stock option
plan. The 2000 Plan is fully compliant with and will be governed by the new
CDNX stock option policy.
RDM develops and provides electronic cheque conversion systems and web-
based payment archive services to retailers, banks and government agencies, as
well as print quality control technologies to banks, printers and payment
processors in over 35 countries. RDM Corporation is a public company listed
under the symbol "RC" on the Canadian Venture Exchange.
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For further information: please contact: Jay Hussey, Investor Relations,
The Equicom Group Inc., (416) 815-0700 ext 225 phone, (416) 815-0080 fax,
e-mail: jhussey@equicomgroup.com; Douglas Newman, CFO, RDM Corporation,
(519) 746-8483 phone, (519) 746-3317 fax, e-mail: dgn@rdmcorp.com;
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