New members on the board of directors - Looks like they are getting dressed up for the TSE
Unique Broadband Systems to further strengthen
Board of Directors pending the election of two new members
Patrick Lavelle and Edward Neufeld to stand for election to company's Board
of Directors
Concord, ON - July 19, 2000 - Unique Broadband Systems, Inc. (CDNX: UBS),
recognized worldwide as a leader in the design, development and manufacture
of broadband wireless solutions, announced today that Patrick Lavelle and
Edward Neufeld have agreed to stand for election to the company's Board of
Directors at its next shareholders' meeting to be held on November 9, 2000.
Patrick Lavelle, Chairman of the Export Development Corporation (EDC),
brings to the UBS Board of Directors an extensive background in both the
public and private sectors. Mr. Lavelle has served as Chairman of the
Business Development Bank of Canada; Chairman and CEO of the Canadian
Council for Aboriginal Business; and Vice-President of Corporate Development
for Magna International Inc.
Mr. Lavelle was also Deputy Minister of Industry, Trade and Technology for
the Province of Ontario, and served as President of the Automotive Parts
Manufacturers' Association of Canada. Mr. Lavelle, who currently heads his
own strategic management consulting firm, serves on a number of corporate
boards in both the United States and Canada, including TSE-listed companies:
Slater Steel Inc., Geac Computer Corporation Ltd. and others.
Edward Neufeld has a doctorate in economics from the London School of
Economics and Political Science. He was formerly the Executive
Vice-President and Chief Economist of the Royal Bank of Canada and prior to
that, Assistant Deputy Minister of Finance in Ottawa. His past board
memberships include Canadian National Railway, Goldlist Properties and
National Life. He is a member of the Policy Committee of the C.D.Howe
Institute, the National Statistics Council and the board of the Atlantic
Council of Canada.
"We are extremely pleased that both Mr. Lavelle and Mr. Neufeld have agreed
to stand for election to our Board of Directors," said Alex Dolgonos,
President and CEO of UBS. "The impact that they will have on our company
will be significant. Their ability to contribute, not only in terms of
advising management and leveraging their vast network of business and
government contacts, but in protecting the interests of all of our
stakeholders, are just some of the benefits that they will bring to UBS, its
management and shareholders."
Earlier this year, UBS announced that John Turner, former Prime Minister of
Canada and now a partner in the Toronto office of the law firm Miller
Thomson LLP, has also agreed to stand for election to its Board of
Directors. Pending the election of Mr. Turner, Mr. Lavelle and Mr. Neufeld,
the UBS Board is expected to consist of a total of seven directors, five of
whom will be independent of management.
In a related announcement, UBS has retained Richard Leblanc to provide
consulting services in the area of corporate governance. Mr. Leblanc, who
is a lawyer, certified management consultant, and experienced educator, is a
leading specialist with respect to boards of directors and effective
organizational governance and compliance in Canada. In accordance with Mr.
Leblanc's mandate, he has just recently provided up-to-date, leading-edge
corporate governance guidelines to the UBS Board of Directors.
"The election of our three new Board members, in conjunction with the
corporate governance guidelines provided by Mr. Leblanc, will clearly place
UBS at the forefront in terms of public company compliance with the
corporate governance guidelines recommended by securities commission
administrators and stock exchanges in Canada," said Stephen Rosen,
Vice-President and CFO of UBS. "UBS is committed to the implementation of
good corporate governance practices designed for the protection of all
persons with a vested interest in the success of UBS." |
