ARKONA Names Leland H. Boardman Vice President & CFO; Company Announces Resignation of Chief Financial Officer.SALT LAKE CITY -- ARKONA Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ARKN), the leader in Web-enabled dealer management solutions for the automobile industry automobile industry, the business of producing and selling self-powered vehicles, including passenger cars, trucks, farm equipment, and other commercial vehicles. , today reported that its Vice President and Chief Financial Officer Stephen L. Russo has tendered his resignation effective April 14, 2005 in order to pursue a startup interest in an unrelated industry. "Steve has been a valuable contributor to the formation, growth and success of ARKONA," said Alan D. Rudd, chief executive officer and chairman. "He has elected to pursue other interests, and we wish him nothing but the greatest success as he leaves to form a startup venture." As a replacement for the departing Russo, ARKONA has announced the hiring of Leland (Lee) H. Boardman, who will become the chief financial officer and vice president of ARKONA effective April 15, 2005. Boardman comes from Utah-based Sorensen Medical Products, where he has served as vice president of finance since 2002. Before beginning his work at Sorensen Medical Products, Boardman spent eight years as the controller and chief accounting officer with Ballard Medical Products, a public company acquired by Kimberly-Clark in 2001. Prior to beginning his work with Ballard Medical Products, Boardman spent 12 years as a certified public accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. with a predecessor to Deloitte & Touche, serving in their Salt Lake City, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. offices. "We are extremely fortunate to have a professional of Lee's caliber join ARKONA's management team," said Rudd. "With his extensive experience in public accounting and in his broad-based experience in overseeing the financial operations of public companies, both as a CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. with Deloitte & Touche, and as a controller of a $157 million public company, his impact will be felt immediately." About ARKONA Inc. Founded in 1996, ARKONA is a public company and a leader in automotive and powersports management solutions. ARKONA's Dealer Management System also leads the market in technologically superior e-business solutions for automotive dealers that fully integrate back office systems with a retail Web presence. In this market ARKONA is the premier Application Service Provider (ASP). For more information visit the ARKONA Web site at www.ARKONA.com. This release may contain 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. as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, may involve known or unknown risks, uncertainties and other factors that may cause the company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. Such forward-looking statements speak only as of the date of this release. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events. |
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