TORONTO, Feb. 22, 2012 /CNW/ - YANGAROO Inc. (TSX-V: YOO) (OTCBB: YOOIF), the industry's leading secure digital
media distribution company, today announced that Scott Wambolt shall
resign as President, Chief Executive Officer and member of the Board of
Directors, effective February 29, 2012. Gary Moss, currently a member
of the Board of Directors, will assume the role of Interim President
and Chief Executive Officer, immediately and has been approved
unanimously by the Board of Directors.
Gary Moss brings significant expertise and experience to the role of
CEO. Mr. Moss was previously Chief Operating Officer of IMAX
Corporation (IMAX-NYSE) where he was responsible for global operations,
strategic planning, corporate development and innovation in a high
growth, results driven environment. His specific areas of
responsibility were sales, marketing, theatre operations, technology,
HR, strategic planning and post production. Implementation of
company-wide policies and procedures (including the selection of SAP to
replace out-dated systems), coupled with creative deal structures,
resulted in record revenues and profit, particularly from emerging
markets. Moss was the lead business negotiator for cutting edge
technology deal licensed from Kodak, which will enable competitive
differentiation for the next generation of laser projection equipment.
Prior to IMAX, Moss was Chief Operating Officer and Chief Financial
Officer of Live Nation Artists, the successor to Concert Productions
International (CPI), a major world-wide concert promoter. He was also
Vice President of Finance with EMI Music Canada Inc. for nearly a
decade, and Vice President of Finance with Sega of Canada Inc. Mr. Moss
is a Chartered Accountant and received his Bachelors of Commerce from
the University of KwaZulu-Natal in South Africa.
"We are so fortunate to have someone with Gary's experience, knowledge,
and leadership skills available to us at this critical time in the
company's growth," said Cliff Hunt, Chairman and Chief Operating
Officer of YANGAROO. "We expect a very smooth transition as Gary knows,
and has the respect of our entire team, having been an active member of
our board of directors for many years. This appointment will further
the strategic focus and help drive the significant growth we saw
beginning in 2011. We appreciate Scott's efforts and wish him well in
his future endeavours."
"YANGAROO has world class technology that has become the standard in the
Music Industry and is fast gaining general acceptance in the
Advertising Industry," said Gary Moss. "I am delighted to join the team
in my new role as we drive for the next level of growth and
YANGAROO's patented Digital Media Distribution System (DMDS) is a
leading secure B2B digital delivery solution for the music and
advertising industries. DMDS replaces the physical distribution of
audio and video content for music, music videos, and advertising to
television, radio, media, retailers, and other authorized recipients
with more accountable, effective, and far less costly digital delivery
of broadcast quality media via the Internet. The DMDS Awards platform
powers many of North America's major awards shows.
Named one of Canada's Top 100 Tech Companies by Canadian Business,
YANGAROO has offices in Toronto, New York, Los Angeles, and Dallas.
YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol
YOO and in the U.S. under OTCBB: YOOIF.
The statements contained in this release that are not purely historical
are forward-looking statements and are subject to risks and
uncertainties that could cause such statements to differ materially
from actual future events or results. Such forward-looking statements
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. The TSX Venture Exchange does
not accept responsibility for the adequacy or accuracy of this release.
SOURCE YANGAROO Inc.
For further information:
Gary Moss at 416-534-0607 ext.111 or visit www.yangaroo.com.