SmarTire announces changes to its board of directors
SmarTire Systems Inc. has made several changes to its board of directors and leadership structure following the resignation of former Chairman Robert Rudman and director Johnny Christiansen.
Rudman and Christiansen resigned "in order to pursue other opportunities," according to the company. In lieu of approximately $113,000 in outstanding director's fees, they agreed to accept 5,719,601 common shares of the company's stock.
William Cronin, a board member since 2001, was appointed to serve as interim chairman. David Warkentin, SmarTire's CEO, and George O'Leary, CEO of SKS Consulting, have joined the board of directors.
"These changes reflect SmarTire's growth process and strategic focus," says Warkentin. "As we move into an era in which the trucking and fleet industry becomes our primary market, we are focused on our products, and on taking SmarTire to a higher performance level with efficient operations, increased revenues and profits.
"We plan to focus on fiscal disciplines and demonstrating our achievements to shareholders through clearer communications and a more focused strategy."
As part of its focus on better communications with shareholders, SmarTire has engaged the services of Walek & Associates, a New York-based public relations and investor relations agency.
The company also announced that it has promoted Greg Tooke to vice president, product and supply chain. A nine-year SmarTire veteran, Tooke was previously director of business and product development.
For more information on SmarTire, visit www.smartire.com.