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.
"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 Corporation
For further information:
Craig Armitage, TMX Equicom
T: (416) 815-0700 ext. 278
Darcy Hausselman, Avigilon Corporation
T: (604) 629-5182