SASKATOON, SASKATCHEWAN--(Marketwire - Oct. 15, 2012) - International Road Dynamics Inc. (IRD) (TSX:IRD) announced today that Mr. David Cortens, CA has been appointed Chief Financial Officer for the Company effective October 22, 2012. Mr. Cortens brings significant senior financial and industry experience to the Company. Prior to joining IRD Mr. Cortens was Chief Financial Officer ("CFO") of EMW Industrial Ltd. and CFO of Novozymes BioAg Limited (formerly Philom Bios Inc.). He also brings significant public company experience to IRD having acted as CFO and a Director of C.M. Oliver Inc., a registered investment dealer. Mr. Cortens received his B.Comm in Accounting from the University of Manitoba in 1978 and his Chartered Accountant designation in 1981.
"We are very pleased to welcome David to IRD," commented Terry Bergan, President and CEO. "He brings a wealth of accounting, industry and public company experience to IRD, and we look forward to his contribution to our growth and success in the years ahead. We also thank Ted Mahood for his contributions over the past few months. Ted has resigned from IRD effective October 26th, 2012, to join Advance Engineered Products Limited as the Chief Financial Officer. Drawing on his experience, Ted refined some of our processes and procedures for internal reporting and oversight which David will continue to build on. We wish Ted well."
IRD is a highway traffic management technology company specializing in supplying products and systems to the global Intelligent Transportation Systems (ITS) industry. IRD is a North American company based in Saskatoon, Saskatchewan Canada with sales and service offices throughout the United States and overseas. Private corporations, transportation agencies and highway authorities around the world use IRD's products and advanced systems to manage and protect their highway infrastructures.
The Company's shares trade on the Toronto Stock Exchange under the symbol IRD.