Changes in Brio Management.VANCOUVER, British Columbia--(BUSINESS WIRE)--March 14, 1996--Since early 1995, the board of directors of Brio (Brio Technology, Palo Alto, CA, www.brio.com) A software company founded in 1989 and acquired by Hyperion Solutions Corporation in 2003 that specialized in enterprise analysis and reporting programs that run on several platforms. Industries Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BRIOF) has been searching for management, with substantial experience in the beverage industry, to manage the company's operations. The company has had difficulty in attracting qualified senior operational personnel. Through the past several months, those searches have intensified. Recently, management was approached by a group which included experienced, senior beverage managers. Several weeks of discussions ensued. The company is pleased to announce that, effective today, five of the company's six directors have resigned in order to usher in Verb 1. usher in - be a precursor of; "The fall of the Berlin Wall ushered in the post-Cold War period" inaugurate, introduce commence, lead off, start, begin - set in motion, cause to start; "The U.S. new management. Gunnar Vogel has stepped down as a director and chairman of the board of directors, while Hermann Riepl, Graham Douglas, Scott Morrice and Claus Ritter rit·ter n. pl. ritter A knight. [German, from Middle High German riter, from Middle Dutch ridder, from r have resigned as directors. The company wishes to thank the departing directors, and Vogel in particular, for their unwavering dedication to the company. Riepl has stepped down as president of the company and its subsidiaries. The new directors are Robert W. Hunt, R. William Brown William Brown (or Browne) may refer to (some of whom were also called 'Bill'): Politicians
Hunt is a former managing partner of Peat Marwick & Partners. From 1981 to 1984, he was with the Allarco Group Ltd., ultimately serving as its president. From 1984 to 1988 Hunt acted as a senior consultant to various large and medium-sized businesses in Western Canada
Western Canada, commonly referred to as the West . He joined the Cascadia Brands group of companies (formerly International Potters) in 1988, where he ultimately became 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. . That group included Calona Wines Ltd., Granville Island Brewing The Granville Island Brewing Company (GIB) is a microbrewery originally based on Granville Island in Vancouver, British Columbia, Canada. Founded in 1984 (as Canada’s first microbrewery), their signature and original product is their Granville Island Lager which is a , Pacific Western Brewing Company Ltd. and Potters Distilleries Inc. Since 1992, Hunt has been a principal, president and CEO of Norwestra Sales (1992) Inc., a Western Canadian distributor of office supplies Office supplies is the generic term that refers to all supplies regularly used in offices by businesses and other organizations, from private citizens to governments, who works with the collection, refinement, and output of information (colloquially referred to as "paper work"). and stationary products. From 1964 through 1987, Brown held various marketing-related positions within the beverage industry in Canada. In 1988 he was appointed as president of Alberta Distillers Ltd., where he remained until his resignation in 1995. His career has focused principally on market development and enhancement and quality control issues. Hunt has been appointed president and chief executive officer of the company and will be responsible for its executive management and direction. Brown has been appointed as 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. . Brown's extensive marketing experience will be called upon to help grow and diversify the company's customer base. McRae is the managing principal of McRae Holmes & King, a Vancouver law firm. He is the chairman and chief executive officer of McRae Waste Management Ltd., a company he co-founded, which is the largest private environmental and waste disposal company in Canada. McRae is also the chairman and managing director of Coleshire Properties Inc., a real estate holding and management company. Turner is the president and an owner of International Aviation Terminals Inc., one of the largest developers and owners of on-airport commercial and industrial properties in North America. He is a director and member of the management committee of VTS See VOB and virtual tape system. VTS - A suite of test programs for Motif from OSF. Properties Partnership, which is the real estate holding company for the AirCare facilities in Vancouver. He is also a director of Coleshire Properties Inc. Turner is a director of the Vancouver Board of Trade The Vancouver Board of Trade was established in 1887. It is a not-for-profit with the goal of developing Vancouver as a Pacific centre for trade, commerce and travel. It also provides input to both federal and provincial budgets. , a past chairman of the board of the British Columbia Aviation Council, a past chairman of the Airports Council International - North America Associates and is presently chairman of the Airports Council International - Pacific Region Associates. The company believes that the new board members are extremely accomplished and capable of providing Brio and its subsidiaries with the type of management that will see to the enhancement and development of its business. In connection with this change in management, the company has agreed to a private placement of 200,000 units at a price of $2.80 per unit. Each unit will be comprised of one common share and one warrant exercisable for two years to purchase one additional share for $2.80 during the first year and $3.22 during the second year. The securities being privately placed by the company will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Also in connection with the change in management, the company has arranged for Vogel to assume responsibility for the management of International Nesmont Industrial Corporation, a responsibility carried by the company for the past two years. Vogel will purchase the company's claim for $50,000 and manage it. In consideration for his acquisition and management of the claim, he will retain 20% of any monies realized from the claim and pay the remaining 80% to the company. CONTACT: Brio Industries Inc. Shelley Dougan, 800/729-2746 or Strategic Growth International Richard Cooper/Stan Altschuler 516/829-7111 |
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