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Douglas Potter Joins Watermill Advisors as CEO-in-Residence.

Business Editors

WALTHAM, Mass.--(BUSINESS WIRE)--April 26, 2004

Watermill Advisors, a strategic advisory firm, announces that Douglas Potter has joined the company as a CEO-in-Residence. In his new role, Potter will serve as interim executive for clients of Watermill Advisors or portfolio companies of Watermill Ventures, a private strategic investment firm which focuses on helping companies in transition transform themselves into sound and profitable investments.

Potter will be responsible for various corporate management initiatives including developing and implementing strategies and business plans, restructuring and/or overseeing operations, and improving financial controls.

Prior to joining Watermill, Potter served as co-CEO and CFO of Durand Forms, Inc., based in Durand, MI, where he was responsible for the overall management of the organization, as well as the strategic assessment and evaluation of the company's performance and growth goals and the development of financial forecasting plans. Potter was previously CEO and CFO of Anika Therapeutics, Inc., based in Woburn, MA, and he was CFO of Dynamics Research Corporation, based in Andover, MA, and SofTech, Inc., based in Waltham, MA.

Steven Karol, Managing Partner and Founder of Watermill Advisors, comments, "We are thrilled to have a seasoned executive like Doug as part of our team. His leadership ability coupled with his vast management and financial experience will prove invaluable in helping us to transform challenged companies into profitable investments."

Commenting on his appointment, "I am honored to be part of such a distinguished group of business professionals," said Potter. "I look forward to the opportunity to play an integral role in helping Watermill achieve its goals for turning around distressed companies."

About Watermill Advisors

Watermill Advisors is a strategic advisory firm which provides both healthy and distressed companies with strategy development, interim and crisis management and merchant and investment banking services. Watermill's consulting practice leverages years of operational experience combining powerful management theories with fact-based, executable strategies using proven models. For more information please visit www.watermill.com.
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Publication:Business Wire
Geographic Code:1USA
Date:Apr 26, 2004
Words:324
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