"NEWS" (COMTEX) B: CBQ, Inc. Announces Consolidation Management Changes
B: CBQ, Inc. Announces Consolidation Management Changes
HUNT VALLEY, Md., Mar 15, 2001 (BUSINESS WIRE) -- CBQ, Inc. (OTCBB:CBQI), the
e-Business Infrastructure Company, in a move to further consolidate its
acquisition of Quantum Technology Group on August 8, 2000, the pending closing
on EasySoft International, Inc., and other acquisitions under negotiation, today
announced certain leadership changes. Bart Fisher, currently Chairman and CEO of
CBQ, Inc. will assume the post of president of CBQ, Inc. John Moran, formerly
president of CBQ, Inc., has resigned to pursue other business interests, but
will remain available to serve as a consultant to CBQ on special projects,
including the development of a national sales force for CBQ's newest subsidiary,
EasySoft International Inc.
In addition, Russell Fisher, formerly Chief Operating Officer at Quantum
Technology Group, has been named as Chief Operating Officer for CBQ, Inc., and
will report directly to Bart Fisher.
"John Moran has made significant contributions in not only folding Quantum
Technology Group into CBQ, but especially in leading the successful effort to
acquire EasySoft International, which should close by the end of the month.
EasySoft has the potential to become a major player in the multi-billion dollar,
rapidly growing software-outsourcing market. We want to thank John and wish him
well in his future endeavors," said Bart Fisher. "Russell Fisher, with his solid
organizational skills, will be an outstanding Chief Operating Officer and
contribute greatly to the installation of our new management and worker
productivity program and expanded CBQ sales efforts in the mid-Atlantic region."
About Mr. Bart Fisher, Chairman, CEO, President of CBQ, Inc.:
Bart S. Fisher is Counsel with the law firm of Porter, Wright, Morris & Arthur
in Washington, DC.
He attended Harvard Law School (JD 1972), The Johns Hopkins School of Advanced
International Studies in Washington, DC, and Bologna, Italy (MA 1967 and PhD
1970) and Washington University (BA 1963). He was elected to Phi Beta Kappa at
Washington University, and awarded the Brookings Institution Fellowship in 1968.
Dr. Fisher is an Adjunct Professor in International Relations at the Georgetown
University School of Foreign Service, and has been a Professorial Lecturer in
International Relations at The Johns Hopkins School of Advanced International
Studies, and Senior Lecturer in International Transactions at the International
Institute of George Mason University. He was a Fellow in the Foreign Policy
Studies Division at the Brookings Institute (1968 to 1969).
He is a member of the International Bar Association and an ex-officio member of
the Board of Governors, International Practice Section, Virginia State Bar. He
serves on the Board of Directors of the Center for Democracy, the Program
Committee of Georgetown University Leadership Seminar, which he co-founded in
1981, as a Director of The Institute at Mars Hill College, as a participating
member of the International Trade Working Group of the President's Council on
Year 2000 Conversion, and is a nationally syndicated columnist for NewsUSA.
He is Managing Partner of Capital House Merchant Banking, LLC, and President of
Capital Baseball, Inc. From 1991-1994 he was Vice President of the Prince
William Cannons Professional Baseball Club and a member of its Board of
Directors. He serves on the Board of Directors of The Energy Bar Company and
Executive Branch Webcasting, LLC.
He is a member of the Board of Directors of the National Marrow Donor Program,
The Marrow Foundation, and the Aplastic Anemia Foundation (which he founded in
1983), and has served as President of the Aplastic Anemia Foundation. He is a
member of the American Legion Parkville Post.
Dr. Fisher is listed in Who's Who in the World, Who's Who in American Law, and
Who's Who in America.
His publications include the following books: The International Coffee
Agreement: A Study in Coffee Diplomacy (Praeger, 1972); Regulating the
Multinational Enterprise: National and International Challenges, ed., with Jeff
Turner (Praeger, 1985); Barter in the World Economy, ed., with Kathleen M.
Harter (Praeger, 1985); and International Trade and Investment: Regulating
International Business, co-author with John Barton (Little, Brown & Company,
1986), which is used as the standard casebook on international trade in many law
schools in the United States.
Dr. Fisher has also written numerous articles published in business and law
journals.
About Mr. Russell Fisher, Chief Operating Officer (COO) for CBQ, Inc.:
Russell Fisher holds a Degree in Business from Barnfield College England. Mr.
Fisher is a highly qualified Executive Manager with more than 20 years of
management experience within the defense and computer distribution industries.
Mr. Fisher began his professional career in 1980 with a defense contractor,
Laneko Management Corporation, based in Baltimore, MD, which manufactured
defense products for NASA, Boeing, Westinghouse, and Lockheed. Mr. Fisher became
General Manager of Laneko in 1987. In this capacity, he oversaw all aspects of
operations. At that time annual sales were $8M. Additional responsibilities
included overseeing proposals and negotiating government contracts, motivating
the sales team and manufacturing departments to exceed deadlines and complete
contracts under budget. Mr. Fisher played a critical role in revitalizing and
reestablishing profitability by negotiating the purchase of new state of the art
robotic equipment to compete in the industry. He implemented computerized job
costing and inventory control system with state of the art bar-code scanning and
time analysis reporting. Mr. Fisher took the company through ISO certification
and higher standards of quality control. By 1992 Mr. Fisher became COO, where he
grew revenues 42% and increased annual sales by executing a series of business
development initiatives that expanded national sales, opened new markets and
built new manufacturing partners.
In 1998 Mr. Fisher became President of Opal Technologies, based in Columbia, MD,
where he was charged with maximizing profit margins while decreasing production
costs of the Server and System division. He transformed the company from a major
parts distributor to $15M in system sales with increased profits and overall
production increases in all areas. He provided leadership for workforce and held
full P & L responsibility, overseeing all finances, business development,
marketing, production, human resources and administrative affairs.
A results-focused executive, Mr. Fisher is an effective leader with proven
ability to turn around poorly managed companies. In 1999 Mr. Fisher was
recruited as the C.O.O. Quantum Distribution, which became Quantum Technology
Group in 2000 to improve the financial position of the company by increasing
profit margins and cutting expenses. Mr. Fisher has a forte for proactively
identifying and resolving problems - controlling costs, automating accounting
systems and maximizing productivity, and will target new opportunities for sales
in markets outside the MD and DC area.
About CBQ, Inc.
CBQ, Inc. is a full service, end to end E-Business solution provider. Through
its subsidiary Quantum Technology Group, Inc., CBQ provides custom software,
including web portal design and development, networking services and security,
as well as many other web-based solutions. The company also provides information
technology outsourcing resources to its clients. For more information on CBQ,
Inc., visit cbq.com.
This news release includes forward-looking statements related to CBQ, Inc. that
involve risks and uncertainties, including, but not limited to, quarterly
fluctuations in results, the management of growth, market acceptance of certain
products and other risks. These forward-looking statements are made in reliance
on the "safe-harbor" provisions of the Private Securities Litigation Reform Act
of 1995. For further information about these factors that could affect CBQ's
future results, see the company's filings with the Securities and Exchange
Commission (the "Commission"). Prospective investors are cautioned that
forward-looking statements are not guarantees of future performance. Actual
results may differ materially from management expectations.
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KEYWORD: MARYLAND DISTRICT OF COLUMBIA
INDUSTRY KEYWORD: SOFTWARE
INTERNET
E-COMMERCE
NETWORKING
MANAGEMENT
CHANGES
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