MISSISSAUGA, ON, Jan. 13, 2012 /CNW/ - Pioneering Technology Corp. ("Pioneering" or "the Corporation") (TSX Venture: PTE), an energy smart product innovation and consumer goods company, is pleased to announce the recent appointment of Dan MacDonald as Chief Operating Officer and Tom Stilo as Vice President of Engineering and Manufacturing.
Mr. MacDonald's 20 plus years of experience in leading both technology and consumer goods businesses through periods of growth and transition has equipped him with the skill set to help lead Pioneering in its next phase of development. Mr. MacDonald's specific knowledge of technology businesses, product development, finance, sales, marketing and branding will be valuable assets as he joins the Pioneering management team in guiding the strategic direction and future growth of the business and its transition to retail markets.
Mr. Stilo's experience in managing the design, development and commercialization of product innovation in a number of different product categories all over the world will help Pioneering in its efforts to bring a number of its new product development projects to market and in taking existing products to the retail market.
Pioneering CEO Kevin Callahan said of the appointments, "We are very pleased to have executives of Dan and Tom's calibre and breadth of business experience join the Company at this very important stage in its development. In addition to overseeing the Company's day to day operations, Dan's experience in retail sales and marketing will be invaluable as Pioneering works towards introducing some of its products to the retail market with Tom leading our ongoing product development and commercialization efforts."
Mr. MacDonald was most recently VP Sales/Country Manager for Kodak Canada, where he led Kodak Canada's industry transition from analog to digital imaging. Mr. MacDonald was also the VP General Manager for the Toronto office of TMP Worldwide, a global direct marketing and advertising business, where he led the transition from a print based media sales company to an Internet Advertising, Search Engine and on-line strategy driven business. Prior to that Mr. MacDonald spent 13 years in the consumer packaged goods industry with Pillsbury, Maple Leaf and Kraft General Foods. Mr. MacDonald holds a BA from the University of Western Ontario and an MBA from the University of Windsor.
Mr. Stilo is a professional engineer with over 20 years of research and design experience and has led the engineering and R&D departments for a number of different equipment manufacturers. Mr. Stilo has led the development of new technology for the protection & control of generators, transformers and the grid; systems for fighter jets, guidance systems for satellites and other consumer and software products; and automotive technologies to reduce fuel consumption for hybrid and full-electric vehicle drives. Mr. Stilo has a B.Eng degree in electrical engineering from Ryerson University and also holds a Project Management Professional designation.
Mr. Peter Knee, previously Pioneering's COO and CFO is leaving the company to pursue other interests. The Company thanks Peter for his contribution to Pioneering. Pioneering CEO Kevin Callahan will assume CFO responsibilities in the interim, while the Company works towards signing a seasoned part time CFO.
In connection with the above noted appointments and compensation for directors and management consultants, the Company will grant options to acquire 900,000 common shares of the Company at a price of $0.25 per share. The options have a five year term, the majority of which are subject to vesting periods over the next 2 years.
About Pioneering Technology Corporation:
Pioneering is an "Energy Smart" product innovation company based in Mississauga, Ontario, that engineers and brings to market energy smart solutions for consumer products making them safer, smarter and/or more efficient. The patented Safe-T-element® cooking system is engineered to help prevent stove top cooking fires, the number one cause of fire in North America, and to reduce the amount of electricity required to cook. The patent pending Safe-T-sensor is designed to detect burning conditions in microwave ovens shutting it off before it causes a fire or triggers a fire alarm. Pioneering trademarks include Safe-T-element®, Safe-T-Sensor™, Powergrill™, Battery Eliminator®, Powerpak™ and the Hydro-free Furnace Fan™. For more information visit: www.pioneeringtech.com.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.
For further information:
Kevin Callahan, President & CEO at (905) 712-2061 ext. 222.