Avid Sportswear & Golf Corporation Announces New Executive Management Team.Business Editors SARASOTA, Fla.--(BUSINESS WIRE)--July 24, 2001 Avid Sportswear & Golf Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AVSG) announces a strategic event with the hiring of a new executive management team. The new executive appointments include: Frank J. Jakovac, President/CEO; James W. Handlon, Exec. VP/COO; and Michelle Mathis, Director of Corporate and Legal Affairs. The backgrounds of these new executive management team members are outlined below. President and Chief Executive Officer, Frank J. Jakovac. Frank Jakovac has over 20 years of extensive Fortune 500 and small growth companies business experience. Frank was previously the President/CEO of Memorex Finance Company, Chairman of Gateway Group, Inc. and President/CEO of Adriatic Ventures, Inc. Executive Vice President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , we have an agreement in principal with James W. Handlon. James Handlon has over 20 years of experience with Fortune 50 and "Big Five" Companies with a proven record of growing businesses, improving performance, and creating innovative strategies and solutions. Jim's previous executive roles include the Marriot Corporation, Ernst & Young Consulting, Towers Perrin Towers Perrin is a global professional services firm. It was established 1 March 1934 as Towers, Perrin, Forster & Crosby. The umbrella name of Towers Perrin was adopted in 1987. , and an e-Commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. marketplace, Digital Commerce. Director of Corporate and Legal Affairs, Michelle Mathis. Michelle Mathis is an experienced Strategic Business attorney with a strong corporate and business contracting background. With over fifteen years in the legal profession, Michelle has served as In-House Counsel and Director of Legal Affairs for several prominent privately held corporations Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation and additionally has served in an advisory capacity for governmental federal corporate restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of savings and loans savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. . Frank Jakovac, the new Avid President 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. , said: "Avid has traditionally produced and marketed high quality products to country club pro-shops, retail facilities, private lines and exclusive licensing arrangements with selected customers. We believe Avid can become highly competitive in our targeted markets." Jakovac continued saying, "We believe we can achieve significant brand recognition. We intend to become distinctive, recognized, and plan to be well positioned to achieve our goals in this rapidly growing industry." Earl T. Ingarfield, Chairman of Avid Sportswear & Golf Corporation, said, "We believe we have a group of exceptional executives who are proven business leaders, have track-records of growing and expanding companies and who bring fresh ideas and forward looking business plans to Avid." About Avid Sportswear Inc. Avid designs, manufactures, markets and distributes its Avid clothing, a distinctive premium brand, moderately priced sportswear line under the Avid Sportswear label. This line is sold primarily through "green grass" (on-course pro shops), end destination resorts, corporate sales accounts and off-course specialty retailers. Avid's products can be viewed online at http://www.avidsportswear.com. 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. and comments in this press release are made pursuant to 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 Securities Reform Act of 1995. Such statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc , among other things, the Company's future sales and quoting results are necessarily subject to risks and uncertainties, some of which are significant in scope and nature and beyond the Company's control. Other risks are summarized under the caption "Risk Factors" in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2000 as filed with the Securities and Exchange Commission. Forward looking statements, by their nature, involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above. The Company cautions that historical results are not necessarily indicative of the Company's future performance. |
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