Garda World Security Corporation

Garda World Security Corporation

December 06, 2007 07:00 ET

Garda Announces Richard Drutman to Lead New U.S. Cash Logistics Team

MONTREAL, QUEBEC--(Marketwire - Dec. 6, 2007) - Garda World Security Corporation (TSX:GW) (Garda), one of the most trusted consulting, investigation and security firms in the world, will announce and comment its third quarter results on Wednesday, December 12, 2007.

Garda is on target to achieve $30 million in synergies by March 2008 from the consolidation of its U.S. cash logistics operations following its acquisition of ATI Systems International ("AT Systems") in April 2007. These savings were achieved in spite of the fact that certain synergies promised by AT Systems from its acquisition of CDC in late 2006 failed to materialize, putting pressure on the company to achieve that financial goal. Senior management has taken the necessary steps to meet its financial objectives through major restructuring measures. Management intends to continue implementing the Garda model of decentralizing operations and bringing strong ownership and an entrepreneurial culture to regional and local management in its American operations.

We are pleased to announce the following new appointments. Richard "Dick" Drutman, Executive Vice President of Business Development at AT Systems, has been named President of Garda's cash logistics organization in the United States. Mr. Drutman has been instrumental in the ongoing integration of Garda's U.S. cash logistics operations and re-branding under the Garda name, a process that will be completed by June, 2008. He has been a key senior executive at AT Systems since 1976 and served as President and CEO of Arcus Data Security following its divestiture from AT Systems and subsequent acquisition by Iron Mountain. He returned to AT Systems as Executive Vice President in 2001 to manage the sales organization and national business development group.

Senior management at Garda Cash Logistics has decided to refine its management structure which now consists of four geographic regions. Mr. Drutman will be managing a team of four experienced regional executive vice presidents. Under the new organization, Kurt Eimer's team will head the Western region as well as the states of Colorado and Utah. Jamie Rutherford's team will continue to be responsible for the North-western region and will assume responsibility for the rest of the Midwest region. Vince Modarelli, Tom Gross and their teams will respectively continue to manage the Northeast and the Southeast regions.

Mr. Richard Irvin, whom Mr. Drutman will be replacing effective immediately, will be pursuing opportunities outside the organization.

"I am honored to be a part of this organization during this exciting and important period in Garda's continued growth and success," said Mr. Drutman. "Since joining Garda, we have assembled a truly outstanding team that is singularly focused on becoming the premier cash logistics provider in the United States."

"I am extremely pleased that Dick has accepted this new leadership role," said Garda President and CEO Stephan Cretier. "Dick is now leading a cohesive and dynamic team of cash logistics professionals to complete our organizational transition from a private, family-owned business to a strategic division of a large and fast-growing international company. Their strong team spirit and entrepreneurial ownership will make our U.S. cash logistics organization a vital part of Garda and a true market leader."

About Garda

Garda, the fifth largest integrated physical security and cash logistics firm worldwide on an annualized revenue basis, is well known for addressing complex security and investigations issues. As a leading provider in consulting, investigation and security services, Garda is recognized as one of the fastest growing companies with operations across Canada and the United States, Latin America, Europe, the Middle East, Africa, and Asia. With approximately 50,000 dedicated professionals, Garda offers integrated solutions in cash logistics, physical security, consulting and investigations, and enterprise intelligence services. Its team includes specialists and some of the most highly qualified and best-trained experts in the industry. For more information, visit:, and

FORWARD-LOOKING INFORMATION -- This press release contains forward-looking statements reflecting Garda objectives, estimates, expectations and the impact of acquisitions on Garda's financial performance. These statements are identified by the use of verbs such as "believe", "anticipate", "estimate", and "expect" as well as by the use of future or conditional tenses. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from Garda's projections or expectations.

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