Calian Technologies Ltd.
TSX : CTY

Calian Technologies Ltd.

November 12, 2014 13:32 ET

Ray Basler Announces Retirement With Kevin Ford Named as Successor

OTTAWA, ONTARIO--(Marketwired - Nov. 12, 2014) - Calian Technologies Ltd. (TSX:CTY) announced today that Ray Basler, its President and CEO, has decided to retire effective March 31, 2015. The Board of Directors has unanimously appointed Kevin Ford, leader of the Company's BTS division, to take on the position of President and CEO upon completion of the transition period on March 31st.

"Ray has led the company through some very challenging times and the board is extremely grateful for his unwavering commitment to the betterment of Calian. I am also pleased that he has indicated his willingness to remain on the board post-retirement" stated Kenneth Loeb, chairman of the board.

"I have been privileged to lead such a great Canadian company. After almost three decades with the company and a full ten years as CEO, it is time to transfer the helm to the next generation of leadership. I look forward to working with Kevin and the management team during the transition period, and to remaining a productive member of the board thereafter" stated Basler. "While we have experienced some difficult markets and significant obstacles during my tenure, I am proud of the fact that we have earned over $115 million in after tax profits and have provided a compound annual return to shareholders of over 11% during that time. I believe the company is well positioned for future growth as it has a solid backlog along with excellent prospects and a seasoned management team that is capable of taking it to the next level."

About Calian

Calian employs over 2,200 people with offices and projects that span Canada, U.S. and international markets. The company's capabilities include the provision of business and technology services to industry and government in the health, training, IT services and operations and maintenance domains as well as the design, manufacturing and maintenance of complex systems to the communications and defence sectors. Our goal is to be the best company to work for, buy from and invest in. The Business and Technology Services (BTS) Division is headquartered in Ottawa. This division delivers outsourcing services for a variety of technical and professional functions and provides health services to numerous domestic customers. Our strength lies in understanding clients' needs, recruiting highly qualified personnel who understand and meet those needs, and then effectively managing those personnel within our customers' framework. Calian's Systems Engineering Division (SED) plans, designs and implements complex communication systems for many of the world's space agencies and leading satellite manufacturers and operators. SED also provides contract manufacturing services for both private sector and military customers in North America.

For further information, please visit our website at www.calian.com, or contact us at ir@calian.com

DISCLAIMER

Certain information included in press releases on this site is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; the dependence on new product development; the impact of rapid technological and market change; the ability of Calian to integrate the operations and technologies of acquired businesses in an effective manner; general industry and market conditions and growth rates; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, see the reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

Contact Information

  • Ray Basler
    President and Chief Executive Officer
    306-931-3425

    Jacqueline Gauthier
    Chief Financial Officer
    613-599-8600