THE DATA GROUP INCOME FUND ANNOUNCES KEY MANAGEMENT APPOINTMENTS
BRAMPTON, ON, Oct. 12 /CNW/ - The DATA Group Income Fund (TSX:DGI.UN) (the "Fund") today announced key management appointments as part of its succession planning process.
Effective October 12, 2010, David M. Odell will transition from his current position as President and Chief Executive Officer of The DATA Group Limited Partnership (the "DATA GROUP") to the role of Executive Chairman of the DATA Group. As Executive Chairman, Mr. Odell will devote his energies to key strategic initiatives and to continuing to foster the culture, values and operating style which remain the foundation of the DATA Group's success. Mr. Odell has been with DATA since 1998, serving as the President of its DATA East Division before being appointed President and Chief Executive Officer in 2000. "In my role as CEO of the DATA Group, it has been a privilege to serve the Fund's unitholders and the DATA Group's customers and to work with so many outstanding individuals at the DATA Group", said Mr. Odell.
Michael Suksi will become President and Chief Executive Officer of the DATA Group. Mr. Suksi has been with DATA for over 22 years and has held progressively senior positions with DATA before being appointed President of its DATA East Division in 2006. In that role, Mr. Suksi has been responsible for the largest segment of the DATA Group's business.
"At the DATA Group, the hallmark of our success has been our values and our stance with customers and investors that 'we do what we say we'll do … we deliver on our promises' ", said Mr. Odell. "Michael Suksi has embodied these values and delivered on our promises in everything he's done. Working closely with Michael and participating in his personal growth during my tenure as CEO has been a highlight for me. He has shown himself to be an outstanding leader and has led his Division as it fully achieved synergies in our major acquisition in 2006 and navigated the highly volatile economic period we've been experiencing in the past one and a half years. He is thoroughly customer-focused and has a proven track record in every position he has held. I am confident that Michael and the other members of the DATA Group's highly talented and experienced management team will continue to embody the DATA group's values as they pursue further success and growth under Michael's leadership. I look forward to focusing on important strategic initiatives and to supporting management in their pursuit of those goals."
"I am honoured to have been appointed the DATA Group's President and Chief Executive Officer", Mr. Suksi said. "I am excited by the prospect for continued growth in all aspects of DATA's business."
Derek Ridout will continue to serve as Chairman of the Fund's Board of Trustees and Mr. Odell will remain as a trustee of the Fund.
About the Fund
The Fund owns directly and indirectly all of the outstanding partnership units of the DATA Group and all of the outstanding shares of the DATA Group's general partner, Data Business Forms Limited. The DATA Group is a leading provider of document management solutions including printed products. Founded in 1959, the DATA Group operates numerous facilities in 11 regions across Canada and has a leading market share in the total document management services segment.
Additional information relating to The DATA Group Income Fund is available on the System for Electronic Document Analysis and retrieval (SEDAR) at www.sedar.com and www.datagroupincomefund.com.
Forward-looking Statements
Certain statements in this press release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of the Fund and/or the DATA Group, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward-looking statements. When used in this press release, words such as "may", "would", "could", "will", "expect", "anticipate", "estimate", "believe", "intend", "plan", and other similar expressions are intended to identify forward-looking statements. These statements reflect the Fund's current views regarding future events and operating performance, are based on information currently available to the Fund, and speak only as of the date of this press release. These forward-looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Many factors could cause the actual results, performance or achievements of the Fund and the DATA Group to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including the impact of the weakened domestic and global economic conditions on the DATA Group's businesses and the effectiveness of cost reductions and other measures taken by the DATA Group in response to those conditions; the DATA Group's ability to grow its sales or even maintain historical levels of its sales of product and services including printed business documents; increases in the costs of paper and other raw materials used by the DATA Group; the DATA Group's ability to maintain relationships with its customers; competition from competitors supplying similar products and services; and the application of recent changes to the income tax treatment of certain income trusts, such as the Fund, which will subject the Fund to tax commencing in 2011, and the effect of those changes on the trading price of the Fund's units. Additional factors are discussed in the Fund's publicly available disclosure documents, as filed by the Fund on SEDAR (www.sedar.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, the Fund does not intend and does not assume any obligation to update these forward-looking statements.
For further information:
Mr. Michael Suksi, President and Chief Executive Officer, The DATA Group Limited Partnership; Mr. David Odell, Executive Chairman, The DATA Group Limited Partnership; or Mr. Paul O'Shea, Chief Financial Officer, The DATA Group Limited Partnership, in each case: Tel: (905) 791-3151
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