LAVAL, QC, Sept. 14 /CNW Telbec/ - 20-20 Technologies Inc, (TSX: TWT), today has reported that in accordance with its succession plan, Jean Mignault, founder of the Company and former Chief Executive Officer, was appointed Executive Chairman of the Board of Directors and will act as Chief of Strategic Direction, continuing, now full time, to be responsible for charting the company's strategic direction. Effective immediately, Jean-François Grou, formerly President and Chief Operating Officer, was promoted Chief Executive Officer.
Mr. Jocelyn Proteau, who will serve as Vice-Chairman and Lead Director of the Board, will maintain the firm's high standards of corporate governance. Mr. Proteau said, "I have had the opportunity to see the Company grow into its present stature as a world leader in 3D interior design and furniture manufacturing software with over 500 employees. Jean Mignault's vision and leadership, including his ability to develop a strong management team and an effective succession plan, with the full support and commitment of the Board, has been at the heart of this building process. On behalf of our Board, and our employees, we sincerely thank and recognize him and I am convinced Jean, freed from day-to-day operations and management, will ensure, in his new roles of Executive Chairman and Chief of Strategic Direction, that the Board puts in place the strategy to achieve the Company's full potential."
"We are also pleased that we could promote for these positions from within our leadership team and recognize and reward the talents and abilities of Jean-François Grou, who has been with the Company for over 10 years. Jean and Jean-François have both been instrumental in guiding 20-20 through the transition to a public Company and into an aggressive growth mode over the last 10 years," added Mr. Proteau.
Jean Mignault commented, "I felt this was an ideal time for me to take on a new role and for the Board to appoint Jean-Francois CEO of the Company, as it enters a new period of growth and expansion. The Company has ambitious plans and I believe the energy, enthusiasm and experience of Jean-François, assisted by a strong executive team, make him ideally suited to succeed in his new role. This change allows me, as a full time employee of 20-20, to focus my energies on the strategic aspects of the Company's plan and on the Board's strategy mandate, while Jean-François will focus on managing and growing the Company even further." Mr. Mignault will also chair the Strategic Direction Committee of the Board.
Jean-François Grou stated, "I want to thank Jean for his vision and outstanding commitment to the Company. Jean has been my mentor and partner growing the business and I look forward to his guidance and his continued leadership as Executive Chairman of the Board and Chief of Strategic Direction. I am excited about our future and look forward to the continued expansion of our markets, customer base and product offering."
About 20-20 Technologies Inc.
20-20 Technologies is the world's leading provider of computer-aided design, business and manufacturing software solutions tailored for the interior design and furniture industries. Dealers and retailers use its desktop and Web-based products and solutions for the residential and commercial markets. 20-20 offers a unique proprietary end-to-end solution, integrating the entire breadth of functions in interior design. It provides a bridge for data communication from the point-of-sale to manufacturing and world-leading enterprise resource planning (ERP) systems, including computer-aided engineering and plant floor automation software. Operating in 12 countries with more than 500 employees, 20-20 is a publicly traded company (TWT) on the Toronto Stock Exchange (TSX). For more information, visit www.2020Technologies.com.
Forward Looking Statements
Certain statements contained in this press release constitute forward-looking information within the meaning of securities laws.
Implicit in this information, particularly in respect of future operating results and economic performance of the Company are assumptions regarding projected revenues and expenses. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual future operating results and economic performance of the Company are subject to a number of risks and uncertainties, including general economic, market and business conditions and could differ materially from what is currently expected.
For more exhaustive information on these risks and uncertainties you should refer to our most recently filed Annual Information Form which is available at www.sedar.com. Forward-looking information contained in this report is based on management's current estimates, expectations and projections, which Management believes are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it is under no obligation and does not undertake to update this information at any particular time, unless required by applicable securities law.
SOURCE 20-20 Technologies Inc.
For further information: For further information: Media Relations: 20-20 Technologies Inc., Jean Mignault, Executive Chairman and Chief of Strategic Direction, (514) 826-3023; Maison Brison: Rick Leckner, (514) 731-0000