Progress Watch, Corp. -PROW- Announces Appointment of New Board Member and Interim CEO of Progress Watch AG.Business Editors BIEL/BIENNE “Biel” redirects here. For other uses, see Biel (disambiguation). Biel/Bienne is a city in the canton of Berne in Switzerland. , Switzerland--(BUSINESS WIRE)--February 8, 2001 The extraordinary general meeting of Progress Watch AG, Biel/Bienne, a 100%-owned subsidiary of Progress Watch Corp., has, in the presence of a notary notary or notary public Public officer who certifies and attests to the authenticity of writings (e.g., deeds) and takes affidavits, depositions, and protests of negotiable instruments. , elected Willy willy Noun pl -lies Brit, Austral & NZ informal a childish or jocular word for penis Meier, Fontaines NE, as the sole member of the company's board of directors. Willy Meier is the technical director of Progress Watch AG, and he is also taking over interim operational responsibility for the company with immediate effect. Elmar Mock <noinclude></noinclude> Wikipedia does not currently have an encyclopedia article for . You may like to search Wiktionary for "" instead. To begin an article here, feel free to [ edit this page], but please do not create a mere dictionary definition. , formerly chairman of the board of directors 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. of Progress Watch AG, has been relieved of both these functions. His dismissal was today confirmed by the Court. Through several actions, Mock has caused Progress Watch substantial damage. In its press release of February 6, 2001, Progress Watch, Corp. announced that it has financed Progress Watch AG in the form of sub-ordinated loans from the parent company. Progress Watch AG is therefore not over-indebted. Willy Meier, 48, earned his engineering qualifications at the Ecole Technique Superieure in Biel/Bienne in the area of micro-technology. Meier has a great deal of knowledge and management experience in the construction and production of watch movements. Amongst other appointments, in the 1980s he completely reorganized re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. the manufacture of movements for the Ebel and Cartier brands, and in the early 1990s he worked as their technical director, heading up production of mechanical and quartz quartz, one of the commonest of all rock-forming minerals and one of the most important constituents of the earth's crust. Chemically, it is silicon dioxide, SiO2. movements. From 1994 to 2000, Meier was head of a development company that specializes in the design, development and realization of watch movements. This company, which now belongs to Progress Watch AG, also had a major stake in the development of industrial production sites for the manufacture of movements in Switzerland and Asia. In addition, from 1991 to 2000, Meier was managing director of a micro-technology production company; he remains its chairman. Willy Meier has been technical director of Progress Watch AG, Biel/Bienne since October 2000. This release contains certain 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. which involve known and unknown risks, uncertainties and other factors not under the Company's control which may cause actual results, performance, achievements of the Company to be materially different from the results, performance of expectations implied by these forward-looking statements. These factors include, but are not limited to, the limited liquidity and the limited operating history of the Company. |
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