CINAR President and CEO Steps Down to be Replaced by CFO on Interim Basis.Business & Entertainment Editors MONTREAL--(BUSINESS WIRE)--Sept. 9, 2002 Mr. Robert Despres, Chairman of the Board of CINAR Corporation, advises that Mr. Barrie Usher USHER. This word is said to be derived from a huissier, and is the name of an inferior officer in some English courts of law Archb. Pr. 25. , has submitted his resignation as 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. and as a director of CINAR Corporation and all subsidiaries, effective September 15, 2002. Mr. George Rossi George Rossi (born 28 September, 1960 in Glasgow) is a Scottish actor, best known for playing Detective Constable Duncan Lennox in The Bill from 1998 to 2003. Rossi is of Italian descent, his mother originates from Valvori, a frazione , Senior Vice-President and Chief Financial Officer, will replace him in the interim until a new President and CEO is appointed. Mr. Usher had previously advised the shareholders and the Board of his intention to resign and in commenting on his resignation, Mr. Usher said: "The major business and legal challenges we faced in putting the affairs of CINAR in order have all been addressed. Under the circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , I feel the timing is right for me to step aside. I want to thank all of our employees for their constant efforts at rebuilding this Company." In commenting on Mr. Usher's resignation, Mr. Despres expressed his appreciation for the work accomplished by Mr. Usher during this difficult period and for his collaboration with the Board. Mr. Despres went on to say: "The search for a new CEO is progressing well and we are committed to getting the best possible candidate." CINAR Corporation is an integrated entertainment and education company involved in the development, production, post-production and worldwide distribution of non-violent, quality programming and educational products for children and families. CINAR's web site is www.cinar.com. This release may include information that could constitute 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. made pursuant to 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. provision 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 (U.S.). Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. Actual results or conditions may differ from those anticipated by these and other forward-looking statements. Such forward-looking statements are subject to a number of known or unknown risks and uncertainties. |
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