Evertz Technologies Limited

Evertz Technologies Limited

June 18, 2008 15:48 ET

Evertz Technologies Limited Announces Organizational Change

TORONTO, ONTARIO--(Marketwire - June 18, 2008) - Evertz Technologies Limited ("Evertz") (TSX:ET) announced today that it is making changes to its organizational structure in order to continue to build on its successes.

In an effort to focus further on acquisitions, strategic planning and continue to build upon our successes, Douglas A. DeBruin, Chairman and Romolo Magarelli CEO are pleased to announce the appointments of Rakesh Patel to Chief Technical Officer and Anthony Gridley to Chief Financial Officer.

Rakesh Patel, currently Vice President of Hardware Engineering at Evertz, will take on the responsibility of Chief Technology Officer (CTO) effective today. In this newly created position, Mr. Patel will be responsible for research of new technologies, product development, and providing technical leadership through the integration of these technologies. Mr. Patel has been an integral member of Evertz for over 10 years and has been working closely with Romolo Magarelli, President and CEO. Mr. Patel will continue reporting to Romolo Magarelli, President and CEO of Evertz.

Anthony Gridley, currently Vice President of Finance at Evertz, will be promoted to Chief Financial Officer (CFO) effective today. Mr. Gridley is a seasoned professional with over 20 years of financial and operational experience in technology, logistics and transport industries. Since joining Evertz in 2005, Mr. Gridley has worked very closely with Douglas DeBruin, Chairman of the Board and Executive Vice President of Administration, and has been instrumental in managing the growth and success of Evertz. Mr. Gridley is a Chartered Accountant and began his career at Ernst & Young. Mr. Gridley will continue to report to Douglas DeBruin, Chairman of the Board and Executive Vice President of Administration.

Antoniella Assalone, currently Divisional Controller at Evertz, will take on the role of Corporate Controller effective today. Ms. Assalone is a Professional Accountant CGA and has been with Evertz since 2002 in progressive managerial positions.

About Evertz

Evertz Technologies Limited (TSX:ET) designs, manufactures and markets video and audio infrastructure equipment for the production, post production, broadcast and internet protocol television ("IPTV") industry. The Evertz' solutions are purchased by content creators, broadcasters, specialty channels and television service providers to support their increasingly complex multi-channel digital and high definition television ("HDTV") broadcast environments and by telecommunications companies to roll-out IPTV. Evertz's products allow its customers to generate additional revenue while reducing costs through the more efficient signal routing, distribution, monitoring and management of content as well as the automation of previously manual processes.

Forward-Looking Statements

The report contains forward-looking statements reflecting Evertz's objectives, estimates and expectations. Such forward looking statements use words such as "may", "will", "expect", "believe", "anticipate", "plan", "intend", "project", "continue" and other similar terminology of a forward-looking nature or negatives of those terms.

Although management of the Company believes that the expectations reflected in such forward-looking statements are reasonable, all forward-looking statements address matters that involve known and unknown risks, uncertainties and other factors. Accordingly, there are or will be a number of significant factors which could cause the Company's actual results, performance or achievements, or industry results to be materially different from any future results performance or achievements expressed or implied by such forward-looking statements.

Contact Information

  • Evertz Technologies Limited
    Anthony Gridley, C.A.
    (905) 335-7580
    (905) 335-5785 (FAX)
    Email: ir@evertz.com