Wireless Data Solutions Inc. Announcement
OCEANSIDE, CALIF. (March 4) BUSINESS WIRE -March 4, 1999--Wireless Data Solutions, Inc. (OTC BB:SOLU) today announced that a Board of Directors meeting was held on Feb. 24, 1999.
Based upon the long term under performance of the SOLU and a philosophical difference as to the new strategies for growth, the majority of the board voted to remove Mike McLaughlin from all positions he held in WDS. This included Chairman of the Board of Directors, CEO, and a chairman of the board of Distributed Networks, Inc. (Dinet), a subsidiary of WDS. This change was effective March 3, 1999.
A resolution was proposed to elect Patrick Makovec as Chairman and Secretary/Treasurer of the board, and Brian Blankenburg as President. Makovec has been on the board of WDS since 1989. He was formerly Treasurer of WDS and Dinet. He has a Masters in Business from the University of Wisconsin. Blankenburg is a partner in the Business Development Group, a national consulting company, which focuses on business turn-arounds. He joined the board in 1997. In September 1998, he accepted the additional responsibility as President of Dinet.
Makovec stated that there continues to be exciting growth opportunities within Dinet, a leader in the design, manufacturer, and marketing of wireless digital communications equipment to the construction market segment in the vehicle fleet industry. Dinet's equipment enables their customers to track driver and vehicle status of their vehicle fleets. He indicated that Dinet's growth has been impeded by a lack of capital which has hampered the work wide marketing of Dinet's products, the introduction of new products which utilize the firm's proprietary technologies, and the expansion into new market segments. He stated that the new board felt strongly that merging the corporation (Wireless Data Solutions, Inc.) into one core business that focused solely on the growth of Dinet would dramatically improve the ability of management to expand Dinet's business, enhance the investment attractiveness of Dinet/WDS Inc. as a single business without any subsidiaries, and it would also reduce total WDS operating costs. Each of these factors would contribute to the growth and profitability of Dinet/WDS.
CONTACT: Pat Makovec
Phone: (320) 203-7477
Fax: (320) 203-7478
email: dinet@cloudnet.com |
