BROADBAND SYSTEMS ANNOUNCES STRENGTHENED BOARD
Former BCE Executive Becomes Chairman
Toronto (March 18,
Shareholders of Unique Broadband Systems (CDNX: UBS) today elected a new board
of directors at the company’s annual general meeting.
Gerald McGoey, John MacDonald, Peter Minaki, Louis Mitrovich and Douglas
Reeson are the new directors of the corporation. Following the annual meeting, the new board elected Mr.
McGoey Chairman of UBS.
“We are excited about the prospects for UBS,” Mr. McGoey
said following today’s meeting. “This is a company with a very strong
platform. It has developed very
good relationships with a number of significant clients including the U.S.
military and Hughes Electronics Corporation, has demonstrated a very strong
engineering capability, boasts an attractive balance sheet and is active in one
of the most explosive industries in the world – wireless communications.”
“We intend to harness this platform and take advantage of
any other opportunities that will allow us to deliver shareholder value. The
initial priorities of our new board are to conduct an in-depth review of the
company’s financial and operating performance and put in place a strengthened
management team,” Mr. McGoey added.
The new Board also announced that Mr. McGoey would serve as
acting CEO of the company. In
addition, immediately following the annual meeting, Jeffrey Friedman, Chief
Administrative Officer, Mohammed Benvidi, Chief Operating Officer and Cameron
Smith, interim Chief Financial Officer tendered their resignations, effective
immediately. These resignations
specify a 60-day transition period.
About the Directors
Gerald T. McGoey
Mr. McGoey’s longstanding career in the telecommunications
industry includes senior executive positions with one of Canada’s largest
telecommunications companies. From 1994 to 1997, Mr. McGoey was Chief Corporate
Officer of Bell Canada. Prior to that, he served as Executive Vice-President and
Chief Financial Officer at BCE Inc. He also served as Chairman and Chief
Executive Officer of Radian Communications Corporation, an Onex company. Prior
to joining BCE, he held senior executive positions in a variety of
Canadian firms, including Oxford Enterprises Inc. (President), Canada
Development Corporation (Executive Vice-President and Chief Financial Officer)
and Peat Marwick Thorne (Partner). He is presently President of Jolian
Investments Limited. Mr. McGoey is a director of Budd Canada Limited and APW
Limited. A graduate of Wilfrid Laurier University, Mr. McGoey is a chartered
accountant and holds a Bachelor of Economics degree.
John A. MacDonald
Mr. MacDonald was President and Chief Executive Officer of
Leitch Technology Corporation from 1999 until recently. He has an extensive
background in telecommunications having worked with New Brunswick Telephone
Company (NBTel) for almost 18 years where he was Chief Engineer, General Manager
of Engineering and Information Systems and eventually became President of NBTel
in 1994. He joined Bell Canada in 1994 as Executive Vice President of Business
Development and Chief Technology Officer. Mr. MacDonald is a graduate of
Dalhousie University and the Technical University of Nova Scotia with a Bachelor
of Science degree in electrical engineering. He serves on the boards of
FioNetworks and Rogers Cable. He is also a member of the federal government’s
Advisory Council on Science and Technology and has chaired the National
Selection Committee for the federal government’s Smart Communities Program.
Mr. Minaki is the Director of Regulatory and Government
Relations at Ericsson Canada Inc. He has held different positions with the
company since 1986, including Manager of Technical and Sales Support, where he
oversaw the sale of the first GSM PCS network in North America. Prior to joining
Ericsson, he was Principal Design Engineer at Honeywell and was a member of the
Technical Staff at RCA’s Aerospace Division. Mr. Minaki is the Chairman of the
EMC Committee of the Radio Advisory Board of Canada and holds a Bachelor of
Science in Electrical Engineering from Queen’s University.
Mr. Mitrovich has over 35 years of extensive experience in
the telecommunications industry, and has held senior positions in engineering,
marketing and corporate management with several major suppliers of equipment and
services in Canada and the United States, including Alcatel, Rockwell and GTE.
Most recently he was Group Vice President and Country Senior Officer for
Alcatel’s telecommunications business in Canada, as well as a Director of
Alcatel Canada Inc. In this capacity, he developed relationships with major
Canadian telecom operating companies and liased with his counterparts at
Alcatel’s extensive worldwide operations. He has a Bachelor of Science in
Electrical Engineering from Queen’s University.
Mr. Reeson is an independent businessman and financial
consultant with considerable experience as an officer and a director of a number
of junior public companies. Previously, he was an Investment Research Analyst at
Burns Fry Ltd., Manager-Treasurer at Northern Telecom Ltd., the Executive
Director of Listings for The Toronto Stock Exchange and a Vice President and
Director at Midland Doherty Ltd. and Yorkton Securities Inc. Mr. Reeson received
his MBA from York University.
About Unique Broadband Systems, Inc.
Unique Broadband Systems, Inc. (UBS) designs, develops and
manufactures high-speed fixed and mobile wireless solutions based on OFDM
technology. UBS has offices in
Canada, Denmark, the UK and Italy.
For more information, contact:
NATIONAL investor relations
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