To: Tom Swift who wrote (305 ) 6/7/2000 8:28:00 PM From: Jeffrey S. Mitchell Read Replies (3) | Respond to of 12465
Re: 6/7/00 - [STWW] Stampede Worldwide Accepts Resignations From Chief Operating Officer Stampede Worldwide Accepts Resignations From Chief Operating Officer TAMPA, Fla.--(BUSINESS WIRE)--June 7, 2000--Stampede Worldwide, Inc., (OTCBB: STWW) announced today that its Chief Operating Officer has stepped down as a Director and as the Investor Relations Officer effective immediately. During the evening of June 6, David E. Salmon, the Company's COO and a director, made several posts to the Raging Bull message board in direct violation of directives by John V. Whitman, Jr., the Company's President and Chief Executive Officer, and Company policy. These posts were in the form of a personal exchange between Charles R. Will Jr, who has used the alias of IWIDEOPEN in the Raging Bull chat forum, and Mr. Salmon. The Company and Mr. Salmon have filed a libel action against Mr. Will. Mr. Salmon stated to Mr. Whitman: "I deeply regret that my anger at Chuck Will for his personal attacks on me, and their adverse impact on my personal and family relationships, overcame my better judgment. I regret that my actions have hurt the Company's credibility and have distracted from our forward momentum in improving shareholder value. I sincerely apologize to you and to the Company, its employees and its stockholders." After careful consideration of Mr. Salmon's action, Mr. Salmon has resigned as a director of the Company; Mr. Salmon has been resigned as the Investor Relations Officer of the Company; and, Mr. Salmon will forfeit one month's pay. "Mr. Salmon has been a productive and valuable part of Stampede's management team, contributing heavily to the Company's restructuring and the foundation for the expansion of its business," said Mr. Whitman. "While I personally regret Mr. Salmon succumbed to immature instincts while on his own time, I fully support his past and expected future contributions to the Company and creation of higher stockholder values. His actions, however, cannot be glossed over and the Company has accepted his resignations from these positions." Mr. Whitman will personally act as the Company's Investor Relations Officer until the Company can employ a qualified, full-time replacement for Mr. Salmon. Special Note: Management believes certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management's views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ from those expressed or implied. Such differences may result from actions taken by the company prior to its current fiscal year end, as well as from developments beyond the company's control, including changes in global economic conditions that may, among other things, affect the performance of the company's anticipated acquisitions or future business. In addition, changes in domestic competitive and economic conditions may also affect performance of all significant company businesses. SOURCE: Stampede Worldwide, Inc. -------------------------------------------------------------------------------- Contact: Stampede Worldwide, Inc., Tampa John V. Whitman Jr., Investor Relations Officer 813/630-2762siliconinvestor.com