Avigilon Appoints Ric Leong as Chief Financial Officer and Announces Results of Annual General and Special Meeting
Leong brings extensive senior management experience with fast-growing public companies to Avigilon leadership team
VANCOUVER, June 25, 2015 /CNW/ - Avigilon Corporation ("Avigilon" or the "Company") (TSX:AVO), a leading global provider of end-to-end security solutions, today announced that Ric Leong has been appointed as Chief Financial Officer (CFO) of Avigilon effective July 1, 2015. Mr. Leong will succeed Avigilon's current CFO Wan Jung, who will continue to serve on the Company's Board of Directors.
Mr. Leong has been with Avigilon since July 2014 and currently serves as its Senior Vice President and Chief Accounting Officer. Mr. Leong has worked closely with Mr. Jung and Avigilon's Senior Management Team, leading the Company's accounting operations on a global basis, including public reporting, treasury, and financial planning and analysis. In addition, Mr. Leong was instrumental in the successful completion of the US$200 million credit facility announced in April. Prior to joining Avigilon, Mr. Leong served in several senior financial leadership positions at two large U.S.-listed public companies.
Mr. Jung has been acting as Interim CFO while the Company has been seeking a permanent successor.
"I'm very pleased to announce the promotion of Ric Leong to CFO. Over the past year I have worked very closely with Ric, who has proven himself as a natural leader and strong financial operator," said Wan Jung. "Ric will continue to play a vital role in the Company's long-term success as we execute our global growth strategy."
Mr. Jung has a long and successful history with Avigilon. He is one of the original founding shareholders of the Company and was Avigilon's first CFO, a position he held from start-up in 2004 through to 2012, and again as Interim CFO from 2014 to 2015. After stepping down as Avigilon's Interim CFO, Mr. Jung plans to retire from full-time work.
"Wan has played key roles in growing Avigilon, developing our culture of innovation and customer service, successfully completing our IPO, and positioning the Company for the future," said Alexander Fernandes, Avigilon's Founder, President, Chief Executive Officer and Chairman of the Board. "We are thankful for Wan's exceptional work and dedication to the Company, and for assisting with the smooth transition of Avigilon's CFO duties to Ric Leong."
The Company also announced the voting results for its Annual General and Special Meeting of shareholders held on June 25, 2015 in Vancouver, British Columbia. Shareholders voted in favour of all items of business before the meeting as follows:
Re-appointment of Auditor
Votes For |
% For |
Votes Withheld |
% Withheld |
23,891,951 |
99.80% |
47,086 |
0.20% |
Set the Number of Directors of the Corporation at Seven
Votes For |
% For |
Votes Against |
% Against |
23,875,913 |
99.74% |
63,124 |
0.26% |
Election of Directors
Nominee |
Votes For |
% For |
Votes Withheld |
% Withheld |
Alexander Fernandes |
22,880,405 |
99.50% |
115,156 |
0.50% |
Wan Jung |
21,693,981 |
94.34% |
1,302,509 |
5.66% |
Bruce Marginson |
22,875,642 |
99.47% |
120,748 |
0.53% |
Murray Tevlin |
22,373,474 |
97.29% |
623,016 |
2.71% |
Larry Berg |
22,732,430 |
98.85% |
264,060 |
1.15% |
Fred Withers |
22,774,413 |
99.03% |
221,977 |
0.97% |
Mike McKnight |
22,745,867 |
98.91% |
250,623 |
1.09% |
Share Split Resolution
Votes For |
% For |
Votes Against |
% Against |
23,494,273 |
98.14% |
444,762 |
1.86% |
Advance Notice By-Law Resolution
Votes For |
% For |
Votes Against |
% Against |
22,046,077 |
95.87% |
950,414 |
4.13% |
About Avigilon
Avigilon Corporation is defining the future of protection through innovative end-to-end security solutions. Avigilon's industry-leading HD network video management software, megapixel cameras, access control and video analytics products are reinventing the security market. Information about Avigilon can be found at www.avigilon.com.
Trademarks
AVIGILON, the AVIGILON logo, and other marks used herein are the registered or unregistered trademarks of Avigilon Corporation and its subsidiaries in Canada and other jurisdictions worldwide. Other product names mentioned herein may be the registered or unregistered trademarks of their respective owners.
Forward-Looking Statements
Certain statements contained in this news release, including all statements that are not historical facts, contain and constitute forward-looking information or forward-looking statements as defined under applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements normally include words like 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing' and similar expressions. Forward-looking statements are not guarantees of future performance, actions or developments and are based on management's expectations and assumptions regarding historical trends, current conditions and expected future developments, as well as other factors that management believes are appropriate in the circumstances. Management has based the forward-looking statements herein on estimates and assumptions that it believes are reasonable at the current time. Actual results could, however, be substantially different due to the risks and uncertainties associated with and inherent to Avigilon's business, as more particularly described in the "Risk Factors" section of Avigilon's Annual Information Form dated March 3, 2015, which is available under Avigilon's profile on SEDAR at www.sedar.com. Although Avigilon has attempted to identify factors that may cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, predicted, estimated or intended. Also, many of the factors are beyond the control of Avigilon. Accordingly, readers should not place undue reliance on forward-looking statements. Avigilon undertakes no obligation to reissue or update any forward-looking statements as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements contained herein are qualified by this cautionary statement.
SOURCE Avigilon Corporation
Investor relations: Dennis Fong, Avigilon Corporation, T: (604) 629-5182 ext. 2515, [email protected]; Media relations: Stephanie Von Zuben, Avigilon Corporation, T: (604) 629-5182 ext. 2206, [email protected]
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