Arcadia Resources, Inc. Announces New Board Member.SOUTHFIELD, Mich. -- Arcadia Resources, Inc. (AMEX AMEX See: American Stock Exchange : KAD KAD Kentucky Association of the Deaf KAD Kids Against Drugs KAD Kansas Association of the Deaf KAD Kansas Army Depot KAD Keighley and District ), an innovator in consumer healthcare services, today announced the appointment of Joseph Mauriello to its Board of Directors. "After an extensive search, we determined that Joe would be a great addition to our Board of Directors," said John Elliott, Arcadia Chairman 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. . "He is a proven leader who will broaden Arcadia's financial and operational leadership, helping us to meet our long-term growth objectives." Mr. Mauriello retired in 2006 as Deputy Chairman & COO of KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen after 40 years with the firm. He was responsible for its day-to-day operations and financial affairs. As Deputy Chairman, he also chaired the firm's Management Committee. In addition, Mr. Mauriello was COO for the Americas Region and member of the Boards of KPMG LLP LLP - Lower Layer Protocol and KPMG Americas. After joining KPMG in 1965, he held a series of leadership positions and serviced some of the firm's most prestigious global clients. During his career, he specialized in serving global financial services clients in 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 , New Jersey, Connecticut and Los Angeles markets. He also served as lead partner for a number of global companies. Prior to his most recent position, he was a member of the Board of Directors of KPMG in 1990-94, and Partner in Charge of the firm's Financial Institution Practices in 1987-1996. In addition, Mr. Mauriello serves on the Board of Directors of XL Capital Ltd., the Board of Directors of The Hamilton Funds of the Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , the Board of Overseers of the School of Risk Management, Insurance and Actuarial Sciences of the Peter J. Tobin Peter J. Tobin is the former Chief Financial Officer of the Chase Manhattan Corporation. He has led the company through several successful mergers and acquisitions in the course of its history. Mr. Tobin graduated with a bachelor's degree from St. John's University in 1965. College of Business at St. John's University, and the Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. of the St. Barnabas Medical Center, Livingston, NJ. The Company believes that Mr. Mauriello's appointment satisfies American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. rules regarding the Company's Independent Directors and Audit Committee. On February 14, 2007 Arcadia Resources, Inc. received notification from the American Stock Exchange that it was no longer in compliance with Amex's independent director and audit committee requirements as set forth in the Amex Company Guide. The Amex Company Guide requires a listed company's board to consist of a majority of independent directors (Sections 121(A)(1) and 802(a)) and to have an audit committee of at least three independent directors (Section 121(B)(2)(a)). Amex has given Arcadia Resources until May 14, 2007 to regain compliance with the Amex requirements. About Arcadia Resources Arcadia Resources, Inc. is a national provider of home care services and products, including respiratory and durable medical equipment Durable medical equipment is a term of art used to describe certain Medicare benefits, that is, whether Medicare may pay for the item. The item is defined by Title XVIII the Social Security Act: Any statements contained in this release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21A of the Securities Exchange Act of 1934, as amended, if applicable to the Company, and otherwise within the meaning of court opinions construing such forward-looking statements. The Company claims all 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. and other legal protections provided to it by law for all of its forward-looking statements. Forward-looking statements involve known and unknown risks, estimates, uncertainties and other factors, which could cause actual financial or operating results, performances or achievements expressed or implied by such forward-looking statements not to occur or be realized, including our estimates of consumer demand for retail store health clinic services, required capital investment, build-out schedules, competition, and other factors. Actual results may differ materially from those anticipated or implied in the forward-looking statements, which speak only as of the date hereof. Additional information that could materially affect the Company may be found in the Company's filings with the Securities and Exchange Commission. The Company disclaims any obligation to update or alter its forward-looking statements, except as may be required by law. |
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