TORONTO, March 27, 2015 /CNW/ - Baylin Technologies Inc. (TSX: BYL) today announced that its Board of Directors has appointed Board member Randy Dewey as Interim President and Chief Executive Officer, effective immediately. This appointment follows the departure of Ephraim Ulmer as the Company's President and Chief Executive Officer and all roles related to affiliates of the Company. A Special Committee of the Board will begin the search for a permanent President and Chief Executive Officer.
The Board thanks Mr. Ulmer for his 22 years of service to the Company and his willingness to fully support and work closely with the Company to facilitate a smooth transition.
As Interim President and Chief Executive Officer, Mr. Dewey will work with Baylin's executive team to facilitate an orderly leadership change while overseeing the Company's transformation as it adapts to rapidly evolving market circumstances. Mr. Dewey will remain on Baylin's Board but will no longer serve on its Corporate Governance and Compensation Committee.
Mr. Dewey is President of Navistone Financial, a management consulting firm specializing in business development, and financial and operations management. Mr. Dewey previously held senior executive positions in the technology, manufacturing and financial services industries.
Baylin (TSX: BYL) is a leading global technology company with more than 37 years of experience in designing, producing and supplying innovative antennas for the mobile, broadband and wireless infrastructure industries. We strive to meet our customers' needs by being their trusted partner from initial design to production with an extensive portfolio of custom engineered solutions as well as leading edge off‑the‑shelf antenna product.
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 Baylin's prospectus 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 Baylin. Accordingly, readers should not place undue reliance on forward-looking statements or information. Baylin 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 Baylin Technologies Inc.
For further information: Investor relations: Conrad Seguin, TMX Equicom, T: (416) 815-0700 ext. 251, email@example.com