20-20 Technologies Inc.
TSX : TWT

20-20 Technologies Inc.

January 19, 2007 19:10 ET

20-20 Technologies Appoints CEO as Co-Chairman and COO to Board of Directors

Incumbent Chairman continues as Co-Chairman and Lead Director

LAVAL, QUEBEC--(CCNMatthews - Jan. 19, 2007) - 20-20 Technologies Inc. (TSX:TWT) today announced the appointment of Jean Mignault as Co-Chairman of the Board of Directors, in addition to his current role as Chief Executive Officer. Jocelyn Proteau, the current Chairman, will continue to direct Board meetings and carry out his current responsibilities as Co-Chairman and Lead Director, as well as Chairman of the Governance committee. Mr. Proteau will continue as an independent Board member to ensure good governance in all aspects of the company's business.

The Board also announced the appointment of Jean-Francois Grou, President and Chief Operating Officer of 20-20, as a Director, thus contributing in that role to the development of the Company's growth strategy. Mr. Grou has full responsibility for the Company's operations.

By focusing individual Board members on specific mandates and roles, the Board believes the Company can more effectively succeed, driven by a high performance board, to enhance shareholder value.

"We are at the beginning of our third year as a public Company, but 2007 marks our twentieth year in the complex business of software creation. 20-20 owes its durability and success to the culture of entrepreneurship that has motivated our every strategic move," said Mr. Proteau. Mr. Mignault will be working with other Board members to facilitate the complete and effective execution of the Board's obligations to set the overall vision and long term direction and growth strategy of the Company. His new position as Co-Chairman reflects his responsibility to contribute to the execution of those obligations.

As CEO, Mr. Mignault will be directly responsible for activities relating to acquisitions and investor relations. "I look forward to working with the other Board members to articulate and shape the growth of 20-20, while forging closer ties with the investment community," said Mr. Mignault.

"We are in the privileged position at 20-20 of having on our Board a strong group of very knowledgeable independent board members, and we want to make sure that we can truly obtain the benefit of their experience," said Mr. Mignault. "A Board with deeper knowledge of our business will better help us refine our corporate direction, succeed in our mission and derive shareholder value from our growth strategy. I really feel that it is a very important aspect of a Board's responsibilities."

"Clear assignment of responsibility and accountability for results will ensure that the Company achieves its high potential," Mr. Proteau added.

About 20-20 Technologies Inc.

20-20 Technologies is the world's leading provider of computer-aided design, sales software and manufacturing solutions tailored for the interior design industry. Dealers and retailers use its state-of-the-art design, specification, photo-realistic 3D rendering and management software for configurable and standalone products in the residential and commercial interior design markets. 20-20 also offers proprietary end-to-end solutions that include an integration platform between sales and manufacturing and world leading enterprise resource planning (ERP) systems, as well as computer-aided engineering and shop floor automation software. 20-20's software is sold in over 100 countries, used at over 35,000 points of sale worldwide. 20-20 now has catalog data for close to 1,000 manufacturers worldwide. The company is publicly traded (TWT) on the Toronto Stock Exchange (TSX) and celebrates its 20th anniversary in 2007. For more information, visit www.2020technologies.com.

Forward Looking Statements

Certain statements contained in this press release constitute forward-looking information within the meaning of securities laws.

Implicit in this information, particularly in respect of future operating results and economic performance of the Company are assumptions regarding projected revenues and expenses. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual future operating results and economic performance of the Company are subject to a number of risks and uncertainties, including general economic, market and business conditions and could differ materially from what is currently expected.

For more exhaustive information on these risks and uncertainties you should refer to our most recently filed Annual Information Form which is available at www.sedar.com. Forward-looking information contained in this report is based on management's current estimates, expectations and projections, which Management believes are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it is under no obligation and does not undertake to update this information at any particular time, unless required by applicable securities law.

Contact Information

  • 20-20 Technologies Inc.
    Jean Mignault
    Chief Executive Officer
    Laval: (514) 332-4110
    or
    20-20 Technologies Inc.
    Steve Perrone
    Chief Financial Officer
    Laval: (514) 332-4110
    Website: www.2020technologies.com