I consider this a meaningful news because this guy is the largest single share holder of MRGE.. The fact that he is back after couple of years tells me things are poised to move.. IMHO..
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(d) Effective November 21, 2014, Michael W. Ferro, Jr. has rejoined Merge Healthcare Incorporated's (the "Company's") Board of Directors as its non-Executive Chairperson. The Company believes that its positive recent financial performance, coupled with a shifting competitive market landscape and changing macro-economic forces, have resulted in a variety of opportunities for both organic and strategic growth. Mr. Ferro, along with Merge's senior management and other outside Directors, will lead the Company's consideration of additional investments in its core software solutions and other value-enhancing alternatives in its key markets. In connection with Mr. Ferro's appointment to the Company's Board of Directors, the Company increased the size of the Board of Directors from 7 to 8 in accordance with Section 3.01 of the Company's bylaws. Dennis Brown, who served as the Chairperson of the Board of Directors from August 26, 2013 to November 21, 2014, will remain a member of the Board of Directors.
Mr. Ferro, 48, previously served as a Director and Chairperson of the Company's Board of Directors from June 4, 2008 to August 26, 2013. Since May 2007, Mr. Ferro has served as chairman and chief executive officer of Merrick Ventures, LLC ("Merrick Ventures") a private investment firm. From June 1996 until October 2006, Mr. Ferro served as chief executive officer and chairman of the board of Click Commerce, Inc. Mr. Ferro is currently a member of the board of trustees of the Chicago Museum of Science and Industry, The Field Museum of Chicago, and Northwestern University. He also serves on the boards of directors of The Chicago Community Trust, Children's Memorial Hospital, The Joffrey Ballet of Chicago, the Lyric Opera of Chicago, Northwestern Memorial Foundation, Big Shoulders Fund, After School Matters, Wrapports, LLC, Economic Club of Chicago and the Renaissance School Fund. Mr. Ferro holds a B.A. from the University of Illinois.
The section of the Company's definitive Proxy Statement, both dated and filed with the Securities and Exchange Commission on April 28, 2014 (File No. 001-33006), entitled "Transactions with Related Persons," at page 11 through 12, is incorporated by reference herein. |
