(COMTEX) B: WAMEX Announces Resignations of Chairman and Chief Admini
B: WAMEX Announces Resignations of Chairman and Chief Administrative Officer
NEW YORK, Oct 12, 2000 (BUSINESS WIRE) -- WAMEX Holdings Inc.(OTCBB:WAMX), an
Internet and technology company dedicated to applying its technology to
alternative markets and exchanges for individuals and institutional investors,
Thursday reported that its chairman and CEO, Mitchell Cushing, and its
CAO/director, Russell Chimenti, have resigned.
The company Thursday announced the resignation of Chimenti effective Oct. 11,
2000. The company has appointed Christof Wessely currently serving as chief of
information technology (CIT) to temporarily assume the duties as director/CAO.
The company Thursday announced the resignation of Cushing effective Oct. 11,
2000. The company has appointed Sascha Mundstein currently serving as chief
operations officer to assume the duties as chairman and CEO.
Chimenti stated: "For personal reasons, I have tendered my resignation to the
company effective Wednesday, October 11. It is the success and prevalence of the
WAMEX ideas and concepts that has always been and will remain very close to my
heart.
"I have full confidence in the new management team, and I would like to appeal
to all persons and entities that share the visions and ideas of WAMEX to give
them full moral support in their endeavors."
Cushing stated: "Effective 9 a.m. Wednesday, I have resigned. My reasons are
personal in nature. To our wonderful shareholders: Your dedication, patience and
support for this company is unparalleled in the annals of corporate history and
has been a base of inspiration that mere words could not adequately justify.
Simply, I am truly humbled and thankful to have served you.
"I can assure you that I have the highest degree of confidence in the dedication
of management to succeed. I ask that each and every one of you continue to
extend the same fervent support to the company as you have in the past. Although
I will seek other opportunities, I remain deeply committed to the success of the
company and as such will remain available to consult and assist when needed."
Mundstein stated: "I would like to express my sincerest appreciation for the
selfless and dedicated work Mr. Cushing and Mr. Chimenti have contributed to
this company for so many years which were characterized by exemplary personal
sacrifice and impeccable work ethic.
"I am honored and proud to assume these new responsibilities, and I accept the
challenge to make this company successful. I want to assure our shareholders
that the relationships I had with outgoing management are such as to ensure a
smooth transition. Whatever undertakings this company will embark on in the
future, the interests of the shareholders will always be foremost on my mind.
"I would like to focus primarily on establishing a solid basis for the company's
operability, and ensure that we can generate growth and shareholder value. The
company is evaluating various scenarios for getting its product to market, and I
am extremely excited about the opportunities that we are exploring.
"We understand the importance of the trading status of the company to all the
shareholders, and I want to assure our shareholders that this is one of my top
priorities."
The WAMEX lead product, the WAMEX Alternative Trading System (ATS) Software
Technology, www.wamex.com, addresses one of the largest and most active
industries worldwide. The potential proprietary system software can allow a
community of self-empowered investors to consummate transactions more
efficiently and at a lower cost.
Safe Harbor Statement: This release may contain certain forward-looking
statements that are made pursuant to the safe harbor provisions of the Private
Securities and Litigation Reform Act of 1995. Actual events or results may
differ from the company's expectations.
CONTACT: WAMEX Holdings Inc., New York
Sasha Mundstein, 212/785-4485
URL: businesswire.com
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KEYWORD: NEW YORK
INDUSTRY KEYWORD: INTERNET
MANAGEMENT
CHANGES
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