News:
Wednesday August 1, 7:30 am Eastern Time
Press Release
SOURCE: ACTV, Inc.
ACTV Restructures Board of Directors
David Reese to Chairman, Board Reduced to Five Members with Independent Majority; nCUBE President Michael Pohl Joins
Intellocity CEO Joel Hassell Named Chief Operating Officer of ACTV
NEW YORK, Aug. 1 /PRNewswire/ -- ACTV, Inc. (Nasdaq: IATV - news), a digital media company specializing in interactive television and enhanced media technologies, today announced several changes at the Board of Directors and executive management levels as it refocuses its operations under new CEO David Reese.
The company announced the following changes in its Board of Directors:
Mr. Reese will assume the role of Chairman;
Michael Pohl, President of nCUBE Corporation, has joined the Board;
Former Chairman William C. Samuels will continue to serve as a director, while Bruce J. Crowley, William A. Frank, and Steven W. Schuster, have resigned from the Board (Mr. Crowley and Mr. Frank will continue in their operating roles with the company);
Mr. Crowley's and Mr. Frank's seats have been eliminated, and ACTV will now have a five-member Board with three independent directors.
Mr. Pohl became President of nCUBE, a leading provider of scalable streaming media solutions for broadband networks in 1999, when the company acquired Skyconnect, Inc. While he was at Skyconnect, Mr. Pohl served as President and CEO. After serving as Director of the White House Media Advance Office under President Jimmy Carter, Mr. Pohl began his business career in the cable industry, where he held senior management positions at Tribune Cable Communications and Douglas Communications Corporation II.
Additionally, Mr. Reese announced the appointment of Joel Hassell as Chief Operating Officer of ACTV. Mr. Hassell currently serves as Chairman and CEO of Intellocity, Inc., the interactive TV development firm, which ACTV acquired earlier this year. Mr. Hassell will divide his time between New York City and Denver.
``The Board and executive moves announced today are the first substantive steps in a broad effort to streamline ACTV's operations and strategy'', said Mr. Reese. ``Our smaller board, with an independent majority, is designed to provide the flexibility, creativity and fresh insight we need as we refocus our business. I'm delighted with the addition of Michael Pohl, a seasoned, technology-savvy executive who is right in the middle of the rapidly evolving marketplace in which we compete. At the same time, I want to thank Bruce Crowley, Bill Frank and Steven Schuster for graciously agreeing to make room for the new leadership.''
``I also want to express my gratitude to Joel Hassell for taking on a crucial new role within ACTV,'' continued Mr. Reese. ``As COO, Joel will be working closely with me to analyze how our business initiatives should be structured. We are intent on refocusing this company around its core strengths and are committed to taking all necessary steps to getting there and Joel will be integral to this effort.''
About ACTV, Inc.
ACTV, Inc. (Nasdaq: IATV - news) is a digital media company providing proprietary technologies, tools, and technical and creative services for interactive TV advertising, personalized programming applications and enhanced media. For more information, visit actv.com.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks defined in this document and in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the companies, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the companies disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE: ACTV, Inc. |
