OAK PARK, MI, Jan. 14 /CNW/ - Azure Dynamics Corporation (TSX: AZD & LSE:
ADC) ("Azure" or the "Company"), a leading developer of hybrid electric and
electric powertrains for commercial vehicles today announced the appointment
of Mr. Ryan Carr as Chief Financial Officer.
Scott Harrison, Azure's Chief Executive Officer welcomed Mr. Carr to the
Company. "Ryan is a key addition to our management team and brings with him a
broad array of management experience," said Mr. Harrison. "He has the
financial, operational and management skills that will help drive Azure's
growth. I am thrilled to welcome him to our talented executive team."
Mr. Carr recently served as Chief Financial Officer for Ryko Enterprises,
a leading global car wash equipment manufacturing and service organization.
Mr. Carr was successful in leading a number of initiatives to improve
liquidity, working capital, operational efficiencies and overall
profitability. Mr. Carr has also worked in various financial and operational
leadership capacities for leading global companies such as; Hayes-Lemmerz,
AlliedSignal and Ernst & Young. With over 15 years of finance and operations
leadership experience Mr. Carr has a solid track record of helping companies
to achieve their financial objectives.
Mr. Carr will report directly to the CEO and will be responsible for all
financial, information technology and human resources activities. He will be
replacing Daniel P. Renzella, who resigned as Azure's Chief Financial Officer.
Mr. Renzella will support the transition as well as the Company's strategic
development in an advisory capacity. "We thank Dan for his leadership and many
contributions over the past few years", said Mr. Harrison. "Dan has played a
significant role in the development and maturation of our business."
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD) (LSE: ADC) is a world leader in the
development and production of hybrid electric and electric components and
powertrain systems for commercial vehicles. Azure is strategically targeting
the commercial delivery vehicle and shuttle bus markets and is currently
working internationally with various partners and customers. The Company is
committed to providing customers and partners with innovative, cost-efficient,
and environmentally-friendly energy management solutions. For more information
please visit www.azuredynamics.com.
The TSX and LSE Exchanges do not accept responsibility for the adequacy
or accuracy of this release.
This press release contains forward-looking statements. More
particularly, this press release contains statements concerning Azure's
business development strategy, projected commercial revenues and product
The forward-looking statements are based on certain key expectations and
assumptions made by Azure, including expectations and assumptions concerning
achievement of current timetables for development programs, target market
acceptance of Azure's products, current and new product performance,
availability and cost of labour and expertise, and evolving markets for power
for transportation vehicles. Although Azure believes that the expectations and
assumptions on which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking statements because
Azure can give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated due to a number of factors
and risks. These include, but are not limited to, the risks associated with
Azure's early stage of development, lack of product revenues and history of
losses, requirements for additional financing, uncertainty as to commercial
viability, uncertainty as to product development and commercialization
milestones being met, uncertainty as to the market for Azure's products and
unproven acceptance of Azure's technology, competition for capital, product
market and personnel, uncertainty as to target markets, dependence upon third
parties, changes in environmental laws or policies, uncertainty as to patent
and proprietary rights, availability of management and key personnel, and
acquisition integration risk. These risks are set out in more detail in
Azure's annual information form which can be accessed at www.sedar.com.
The forward-looking statements contained in this press release are made
as of the date hereof and Azure undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by applicable
For further information:
For further information: Steven Glaser, Vice President, Corporate
Affairs, (416) 367-0220 x105, Email: email@example.com