Avigilon Announces Management Change
VANCOUVER, May 6, 2014 /CNW/ - Avigilon Corporation ("Avigilon" or "the Company") (TSX:AVO), a global leader in end-to-end security solutions, today announced that Director Mr. Wan Jung has been named interim chief financial officer for Avigilon, effective immediately. In connection with a personal health issue, Mr. Bradley Bardua is no longer with the Company and the Company wishes him well.
Mr. Jung has a long and successful history with Avigilon. He is one of the original founding shareholders of the Company and was Avigilon's first CFO, a position he held from start-up in 2004 through to 2012, including Avigilon's successful initial public offering in 2011. Mr. Jung is also a member of the Company's Board of Directors and has served continuously since 2004.
Avigilon has retained Caldwell Partners, premier providers of executive search with international reach, to assist with finding and placing Avigilon's next CFO.
"We are grateful that Wan has agreed to come out of retirement in the interim to ensure there is no interruption in the ongoing day-to-day financial operation of the Company and to assist with the smooth transition to the next CFO," said Alexander Fernandes, Avigilon's founder, president, CEO and chairman of the board. "Wan brings an exceptional level of professional expertise. He and I have successfully grown businesses and worked side-by-side for more than 14 years. I am excited to be able to work with him once again," said Mr. Fernandes.
"Avigilon is in a very strong position to attract high caliber CFO candidates. With the help of Caldwell Partners I am confident we will find the right person to help take us to that next level of global growth," stated Mr. Fernandes.
Prior to joining Avigilon, Mr. Jung was vice president of finance for Quantitative Imaging Corporation (or "Q-Imaging"), another successful technology company founded and led by Alexander Fernandes. Prior to Q-Imaging, Mr. Jung served as director of finance with NIKE Canada Ltd. for 14 years, where he was instrumental in growing Nike's revenue from $25M to over $400M per year. Mr. Jung has also participated on the boards of 11 public companies over the past 10 years.
Avigilon Corporation is defining the future of protection through innovative end-to-end security solutions. Avigilon's industry-leading HD network video management software, megapixel cameras, access control and video analytics products are reinventing the security market. Information about Avigilon can be found at avigilon.com.
Forward Looking Statements
Certain statements contained in this news release, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, we have made numerous assumptions. Although our management believes that the assumptions made and the expectations represented by such statement or information are reasonable, there can be no assurance that any forward-looking statement or information referenced herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks, uncertainties and other factors include, among other things those risks identified in Avigilon's most recent Annual Information Form and prospectus, each of which is filed on SEDAR at www.sedar.com.
Although we have attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of Avigilon. Accordingly, readers should not place undue reliance on forward-looking statements or information. Avigilon undertakes no obligation to reissue or update any forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information herein are qualified by this cautionary statement.
SOURCE Avigilon CorporationFor further information:
Craig Armitage, TMX Equicom
T: (416) 815-0700 ext. 278
Darcy Hausselman, Avigilon Corporation
T: (604) 629-5182