Healthcare Industry News: CHF
News Release - January 22, 2007
Zecotek Announces Board and Management Changes
VANCOUVER, Jan. 22 (Healthcare Sales & Marketing Network) - Zecotek Medical Systems Inc. (TSX-Venture - ZMS; Frankfurt - W1I.F) announces that, with a view of bringing added independence to its Board of Directors and as recommended by its Corporate Governance Committee, it has instituted a number of changes to the composition of its board of directors.Mr. Michel Coderre, a co-founder of the Company, has agreed to step down from the board and as an officer of ZMS. In addition, Mr. David Wynne has resigned from the board, but will remain COO of the Company's Singapore operations.
At the last Annual General Meeting, Shirley Kancs did not stand for re-election so that Mr. Frank Ramsperger, an independent director, could be elected.
Mr. Ramsperger, who will take on the role as Chair of the Compensation Committee and the lead director in charge of administrative affairs of the board, previously served as member of the Executive Board and Chief Investment Officer of Bank Hofmann AG, Zurich. His banking background and knowledge of public markets will be an asset to Zecotek as it proceeds in its development as an internationally recognized company. The Company is presently in discussions with individuals to fill the vacant seats on the Board of Directors and will announce its decision in due course.
Mr. Eric Sager will remain as a director and also will take on the role of Executive Vice President for Business Development and Corporate Affairs.
The Board and Management of Zecotek Medical Systems wish to thank Mr. Coderre, Ms. Kancs and Mr. Wynne for working with the Company to benefit from greater board independence. Gratitude and thanks are also being extended for their most valuable contributions in the past two years.
"These changes are part of Zecotek's efforts to meet international governance standards as we move forward with the development of our business objectives" stated Dr. Faouzi Zerrouk, President and CEO.
Zecotek Medical Systems Inc. has granted 50,000 stock options to a consultant for his contributions to the Company. The exercise price is set at $1.10 and will expire on Jan. 22, 2012. The stock options are subject to regulatory approval.
Additional company information may be found at www.zecotekmed.com or for corporate filings, visit www.SEDAR.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. If you would like to receive news from Zecotek in the future, please email kelly(at)CHFir.com and mention ZMS News in the subject heading or visit the corporate website at www.zecotekmed.com
Source: Zecotek Medical Systems
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