AQM appoints new chairman and restructures senior management.WOODBRIDGE, Ontario--(BUSINESS WIRE)--July 16, 1996--AQM AUTOMOTIVE CORP. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AQM AQM Active Queue Management AQM Air Quality Management AQM Acquisition Management AQM Assistant Quartermaster (Civil War) AQM Additive Quark Model AQM Analog Quadrature Modulator AQM Acenaphthenequinone Monoxime .AF TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : AQV AQV Anticoncepcion Quirurgica Voluntaria (voluntary surgical contraception) ) AQM Automotive Corporation ("AQM") today announced the following changes to its Board of Directors and management team, effective July 10, 1996. Mr. Leslie Leib resigned as Chairman of AQM and was replace by Mr. Patrick Draper as Non-Executive Chairman of AQM. Mr. Patrick Draper, B. Comm, an AQM Director since December, 1993, is presently the President of Thompson, Minwax (Canada) Ltd. Mr. Leib remains a Director and 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. of AQM as well as CEO of its wholly owned operating subsidiary, G.K. Industries Ltd. This change in management responsibility will enable Mr. Leib to devote considerably more time to growing the primary business of AQM, namely the G.K. Industries automotive filter operation. Mr. Draper will be assuming many of Mr. Leib's responsibilities as these relate to the public scope of AQM, including strategic planning and corporate development. This re-alignment will enable Mr. Draper to accelerate the Corporation's goals to become a multi-divisional automotive supplier for the North American aftermarket. Mr. Robert Bessner, C.A. resigned as CFO See Chief Financial Officer. and Treasurer of AQM and was replaced by Timothy Nigh nigh adv. nigh·er, nigh·est 1. Near in time, place, or relationship: Evening draws nigh. 2. Nearly; almost: talked for nigh onto two hours. as Director, CFO, Secretary and Treasurer of AQM. Mr. Timothy Nigh, M.B.A., was previously Vice President, Finance of Quinn Data Services and Manager, Financial Planning at TransCanada PipeLines. Mr. Bessner remains a Director of AQM and retains the positions of CFO and Secretary of G.K. Industries Ltd. Mr. James Shekarchi, B.Sc., a Director since June 1995, was appointed Vice President, Sales and Marketing for G.K. Industries Ltd., Canadian business. He was previously Vice President, Strategic Planning and Corporate Development and will now be working with Mr. Draper on the creation of new business building initiatives for the North American market. Mr. Max Wagerman continues in his position as Vice President, Sales and Marketing for the US business. AQM Automotive Corporation, through it wholly owned subsidiaries, manufactures, packages and distributes automotive fuel filters, breather elements and automatic transmission filter kits exclusively to the automotive aftermarket. Its clients include some of the largest automotive parts suppliers, distributors and retailers in Canada, the USA and Latin America. -0- The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved the information contained herein. CONTACT: AQM Automotive Corporation Gary Perkins, 905/479-2800 800/293-5519 905/479-8608 (Fax) |
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