AMPAM Announces Management Changes.Business Editors ROUND ROCK, Texas--(BUSINESS WIRE)--April 25, 2003 American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Plumbing plumbing, piping systems inside buildings for water supply and sewage. The Romans had a highly developed plumbing system; water was brought to Rome by aqueducts and distributed to homes in lead pipes—hence the name plumbing from the Latin word plumbum & Mechanical Inc. ("AMPAM") today announced that David C. Baggett has resigned as the Company's president and chief financial officer to pursue other business interests. Commenting on Baggett's departure, Robert Christianson, chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "David has been associated with AMPAM since its formative formative /for·ma·tive/ (for´mah-tiv) concerned in the origination and development of an organism, part, or tissue. stages. He played an integral role in our initial consolidation efforts and establishing the company's strategic focus. We wish David all the best in his future endeavors." Robert Christianson will assume the additional title of president. Christianson also announced that he has formed a committee of the board of directors to evaluate the company's top management structure and to look at leadership options from both within and outside the company. Results for the first quarter of 2003 are expected to be available by May 15, 2003. Management believes that the results from ongoing operations for the first quarter of 2003 will show some improvement over the first quarter of 2002. The Company remains committed to its long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. strategies, including strategic alliances with homebuilders and our national purchasing initiatives. Headquartered in Round Rock, Texas, AMPAM is America's No. 1 choice for residential plumbing, heating and cooling. AMPAM also provides commercial plumbing and mechanical contracting services. This news release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. . Although AMPAM believes that such statements are based on reasonable assumptions, it can give no assurance that its expectations will in fact occur. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, changes in national or regional economic conditions affecting the construction industry, our ability to integrate acquired businesses, federal and state regulatory developments, AMPAM's financial leverage and the availability of skilled personnel, as well as other risk factors. |
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