Nurescell Announces Management Changes.
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Dec. 22, 2000
Several changes within the senior management of Nurescell Inc. (OTCBB:NUSL) have recently occurred.
In an effort to further strengthen management as the company proceeds into the production and marketing phase of Nurescell's activities, Adrian Joseph has resigned as chief executive officer of the company and will serve in the newly created position of chief scientific advisor.
This new position will permit Joseph to concentrate on scientific activities in Europe and Russia working with Nurescell AG, the German affiliate of the company. His scientific and technical expertise will remain available to Nurescell. Additionally, Sharon Nitka has resigned her position as chief financial officer.
John Longenecker has been named the new CEO and president of Nurescell and will continue to serve as a director of the company. Longenecker significantly strengthens the executive management team through his many years of experience in the nuclear sector. Longenecker brings significant government and commercial nuclear industry experience to the company.
Longenecker is also the president of Longenecker & Associates, a management consulting firm within the high-technology and energy- related industries. Prior to the formation of Longenecker & Associates in 1989, Longenecker was chairman of General Atomic International Services Corp., a company which provided services and products to nuclear power stations.
From 1983 to 1987, Longenecker served in the Reagan administration as the deputy assistant secretary responsible for management of the U.S. uranium enrichment business within the U.S. Department of Energy (DOE), and prior thereto worked in the U.S. nuclear reactor development program as the director of Breeder Demonstration Projects for the DOE.
Longenecker was appointed by President Bush in 1992 to serve as the first CEO of the U.S. Enrichment Corp. Longenecker received both his bachelor of science and master of science degrees from Pennsylvania State University and has served as a member of that institution's Industrial Professional Advisory Council.
Longenecker has appeared before the U.S. Congress on numerous occasions, and has presented papers in various national and international forums including the Uranium Institute in London, the Japanese Atomic Industrial Forum, the United States Atomic Industrial Forum, the U.S. Council for Energy Awareness, the American Nuclear Society, the European Nuclear Society, the Canadian Nuclear Society, the World Nuclear Fuel Conference, the Institute of Nuclear Materials Management and the American Society of Mechanical Engineers.
Longenecker is a member of the Nuclear Energy Institute and has served as chairman of the USCEA Uranium Enrichment Task Force. Longenecker is a member of Tau Beta Pi Honorary Engineering Society and the American Nuclear Society.
James Samuelson has resigned his duties as president and will assume the positions of chief financial officer, vice president of operations and remain a director of the company. Samuelson brings significant experience in the international financial markets to the company. Samuelson also serves as vice president and chief financial officer of Advanced Technology Industries Inc. (OTCBB:AVDI).
Prior to this position Samuelson served as a vice president in the investment banking groups of two European based financial groups. Samuelson earned both his bachelor of science and master of business administration degrees from Creighton University.
The board of directors would like to recognize the contributions of Joseph to the company since its formation. Joseph's scientific background played an instrumental part in the development of Nurescell's proprietary radiation shielding technology and maneuvering the company to its present position.
The current management appointments will allow Nurescell to transition from research and development to marketing of its product. The company looks forward to its continued cooperation with Joseph as he assumes the role of chief scientific advisor.
William Wilson, chairman of the board remarked: "The board of directors of Nurescell is extremely fortunate to be able to name these very experienced and capable people to their new positions in the company. We now look forward to a challenging and productive future for the company.
"With the completion of the newly formed affiliate company in Germany, known as Nurescell AG, we have begun the testing and certification process with required governmental agencies and institutes of Nurescell material in Europe and anticipate that this will result in sales of our products in the Russian and European marketplace that would not otherwise be available to the company. We remain enthusiastic about the future of Nurescell Inc. and Nurescell AG."
In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Nurescell Inc. notes that statements in this news release that look forward in time (which includes everything other than historical information) involve risks and uncertainties that may affect its actual results of operations. The following important factors, among others (including those discussed in Nurescell Inc.'s filings with the Securities and Exchange Commission) could cause actual results to differ materially from those set forth in the forward-looking statements: the availability of funding for current and future operations; the acceptance of our product in the marketplace; and the characteristics and pricing of our product as compared with competing products. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Nurescell Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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|Date:||Dec 22, 2000|
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