WAMEX Announces Resignations of Chairman and Chief Administrative Officer.Business Editors and High-Tech Writers NEW YORK--(BUSINESS WIRE)--Oct. 12, 2000 WAMEX WAMEX Washington Area Music Exchange WAMEX West African Monsoon Experiment Holdings Inc.(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :WAMX), an Internet and technology company dedicated to applying its technology to alternative markets and exchanges for individuals and institutional investors, Thursday reported that its chairman 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. , Mitchell Cushing, and its CAO/director, Russell Chimenti, have resigned. The company Thursday announced the resignation of Chimenti effective Oct. 11, 2000. The company has appointed Christof Wessely currently serving as chief of information technology (CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. ) to temporarily assume the duties as director/CAO. The company Thursday announced the resignation of Cushing effective Oct. 11, 2000. The company has appointed Sascha Mundstein currently serving as chief operations officer to assume the duties as chairman and CEO. Chimenti stated: "For personal reasons, I have tendered my resignation to the company effective Wednesday, October 11. It is the success and prevalence of the WAMEX ideas and concepts that has always been and will remain very close to my heart. "I have full confidence in the new management team, and I would like to appeal to all persons and entities that share the visions and ideas of WAMEX to give them full moral support in their endeavors." Cushing stated: "Effective 9 a.m. Wednesday, I have resigned. My reasons are personal in nature. To our wonderful shareholders: Your dedication, patience and support for this company is unparalleled in the annals of corporate history and has been a base of inspiration that mere words could not adequately justify. Simply, I am truly humbled and thankful to have served you. "I can assure you that I have the highest degree of confidence in the dedication of management to succeed. I ask that each and every one of you continue to extend the same fervent support to the company as you have in the past. Although I will seek other opportunities, I remain deeply committed to the success of the company and as such will remain available to consult and assist when needed." Mundstein stated: "I would like to express my sincerest appreciation for the selfless self·less adj. Having, exhibiting, or motivated by no concern for oneself; unselfish: "Volunteers need both selfish and selfless motives to sustain their interest" Natalie de Combray. and dedicated work Mr. Cushing and Mr. Chimenti have contributed to this company for so many years which were characterized by exemplary personal sacrifice and impeccable work ethic work ethic n. A set of values based on the moral virtues of hard work and diligence. work ethic Noun a belief in the moral value of work . "I am honored and proud to assume these new responsibilities, and I accept the challenge to make this company successful. I want to assure our shareholders that the relationships I had with outgoing management are such as to ensure a smooth transition. Whatever undertakings this company will embark on in the future, the interests of the shareholders will always be foremost on my mind. "I would like to focus primarily on establishing a solid basis for the company's operability Operability is the ability to keep a system in a functioning and operating condition. In a computing systems environment with multiple systems this includes the ability of products, systems and business processes to work together to accomplish a common task such as finding and , and ensure that we can generate growth and shareholder value. The company is evaluating various scenarios for getting its product to market, and I am extremely excited about the opportunities that we are exploring. "We understand the importance of the trading status of the company to all the shareholders, and I want to assure our shareholders that this is one of my top priorities." The WAMEX lead product, the WAMEX Alternative Trading System The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. (ATS) Software Technology, www.wamex.com, addresses one of the largest and most active industries worldwide. The potential proprietary system software can allow a community of self-empowered investors to consummate transactions more efficiently and at a lower cost. 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. Statement: This release may contain certain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities and Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Actual events or results may differ from the company's expectations. |
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