Bristol Retail Solutions Inc. Appoints Interim Chief Executive Officer and Chief Operating Officer.NEWPORT BEACH, Calif.--(BUSINESS WIRE)--June 16, 1999-- Bristol Retail Solutions Inc. (NASDAQ:BRTLC) Wednesday announced that the Board of Directors has appointed Michael Pollastro as interim chief executive officer and chief operating officer for the company. Pollastro has been in the Point-of-Sale (POS) business for over 15 years. Pollastro acquired Automated Register Systems (ARS) in 1984 where he currently serves as president/CEO. Automated Register Systems Inc. was acquired by the company on Dec. 31, 1996 and is a wholly-owned subsidiary of Bristol Retail Systems Inc. Prior to that, he served approximately three years as director of Management Information Services for the University of Washington Hospitals. Larry Cohen, chairman of the Board and president of Bristol stated, "The appointment of Michael Pollastro is another step towards Bristol's reorganization plan to bring real industry experience to the forefront. I believe Mr. Pollastro will be a key player towards Bristol's current management plans to streamline operations, grow revenue and centralize information systems." Cohen added, "When Mr. Pollastro acquired Automated Register Systems, he took over a basically unprofitable operation with declining revenues, and within a year, made the operation profitable while growing revenues at an annual rate approximately 15% per year. His experience and expertise in the Point-of-Sale (POS) industry and with turnaround situations should result in profitability and revenue growth for the near future." Bristol Retail Solutions, with headquarters in Newport Beach, provides retail automation products and services through an expanding network of point-of-sale businesses. In conjunction with the provisions of the new "Safe Harbor" section of the Private Securities Litigation Reform Act of 1995, this news release may contain forward-looking statements pertaining to future anticipated projected plans, performance and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectations. Further information on potential factors which could affect Bristol Retail Solutions Inc. are included in the company's 10KSB filed with the Securities and Exchange Commission. |
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