Viking Systems Announces Appointment of Ronald Walrod to Board and Joseph Warrino as CFO.Business Editors/Health/Medical Writers LA JOLLA La Jolla (lə hoi`yə), on the Pacific Ocean, S Calif., an uninc. district within the confines of San Diego; founded 1869. The beautiful ocean beaches, in particular La Jolla shores and Black's Beach, and sea-washed caves attract visitors and , Calif.--(BUSINESS WIRE)--April 22, 2004 Viking Systems, Inc. (Pink Sheets:VKSY) today announced that Ronald Walrod, 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. , JMAR JMAR Joint Medical Asset Repository Technology, Inc. (Nasdaq:JMAR) will be replacing Dennis Blomquist on the Board of Directors effective with the completion of the acquisition of the visualization business of Vista Medical Technologies, Inc. on April 15, 2004. Dennis Blomquist, Viking's former CEO, had agreed to serve as director and CFO See Chief Financial Officer. until the completion of the acquisition. He is being replaced as CFO by Joseph Warrino, the former controller for Vista Medical Technologies. Ron Walrod brings substantial technology and management depth to Viking's Board. Walrod has served as President, Chief Executive Officer and director of JMAR Technology since October, 2002. From 1998 to 2000, Mr. Walrod served as President and CEO of Kinetic Probe, a privately-held company engaged in the development of semiconductor probe cards. While there, he established a new business model for the start-up operation and secured funding from a range of sources to develop and commercialize its product. From 1996 to 1998, Walrod served as President and CEO of Nautronix, a leading supplier of dynamic positioning Dynamic positioning (DP) is a system to automatically maintain a ship’s position and heading by using her own propellers and thrusters. This allows operations at sea where mooring or anchoring is not feasible due to deep water, congestion on the sea bottom (pipelines, , autopilot and automation systems for marine applications. From 1984 to 1993, Mr. Walrod served as President and CEO of Applied Remote Technology, Inc. (ART), a company he founded to develop autonomous undersea vehicle (AUV AUV Action Utility Vehicle AUV Autonomous Underwater Vehicle AUV Autonomous Unmanned Vehicle AUV Asian Utility Vehicle AUV Accumulation Unit Value AUV Average Unit Volume AUV Astronomska Udruga Vidulini (Croatia) AUV Annualized Unit Volume ) systems, advanced undersea sensors, and acoustic communications links, all of which have both commercial and military applications. The effectiveness of ART's AUV and sensor systems earned the Company recognition as a leading innovator in the field and led directly to ART's acquisition by General Dynamics General Dynamics Corporation (NYSE: GD) is a defense conglomerate formed by mergers and divestitures, and as of 2006 it is the sixth largest defense contractor in the world[1]. The company has changed markedly in the post-Cold War era of defense consolidation. . Mr. Walrod graduated with Honors from the United States Coast Guard Academy United States Coast Guard Academy, at New London, Conn.; for training young men and women to be officers of the U.S. Coast Guard; established 1876, opened 1877 as United States Revenue Cutter Service School of Instruction, took its present name in 1915. and earned both Masters of Science and Professional Engineer Degrees from the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, in 1970, and received a Masters of Business Administration degree from the University of San Diego in 1983. He was awarded a fellowship for graduate studies in Ocean Engineering from the National Science Foundation and has twice received the Industrial Research and Development IR 100 Award for Remotely Operated Vehicles developed under his direction. Mr. Walrod holds a United States Patent for "Comminution comminution (k As Viking's new CFO, Joe Warrino brings a strong manufacturing and public company accounting background to Viking. Warrino will bring continuity and compliance experience from his experience at Vista. From 2000 to April 2004, he was the controller of Vista Medical Technologies, Inc. From 1999 to 2000 he was a Division Controller and Human Resources Manager of DT Industries, Inc. Prior to that, from 1998 to 1999, he was a senior cost accountant for Vista Medical Technologies, Inc. Before joining Vista, he worked as an accountant for several different companies. Mr. Warrino earned his BS Degree in accounting from Salem State College
Salem State College is a four-year public institution of higher learning located in the city of Salem, Massachusetts. and his AS Degree in Management from Middlesex Community College Middlesex Community College is a public community college with two campuses located in Lowell and Bedford, Massachusetts, USA. The college was founded in 1970 on the grounds of the VA Hospital in Bedford, Massachusetts. . About Viking Systems, Inc. Viking Systems, Inc. mission is to become the market leader in the development of integrated imaging, information and surgical control technologies that significantly enhance performance and patient outcomes of complex surgical procedures. Viking plans to complete a series of acquisitions in the medical device market focused on companies with vision, optics, laser, sensor and other imaging technologies that further this mission. Forward-Looking Statements This current report contains certain forward-looking statements and any statements contained in this current report that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "estimate" or "continue" or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within Viking's control. These factors include, but are not limited to, economic conditions generally and in the markets in which Viking may participate, competition within Viking's markets and failure by Viking to successfully develop business relationships. |
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