Kanata, Ontario July 22, 2004 – Calian Technology Ltd. (TSX: CTY) one of Canada's leaders in technology services, today announced that Larry O'Brien will be retiring from his CEO position effective at the Company's Annual Meeting to be held on February 2, 2005. Ray Basler, currently President and Chief Operating Officer will become CEO effective February 2, 2005 and will be nominated for election to the Calian board of directors, at the shareholders meeting. Mr. O'Brien will remain as Chairman of the Board of Directors.
"As Larry retires and moves on to the role of Chair of the Board, I want to congratulate him on making Calian the highly successful services company it is today", said Mr. Bill Hewson, Calian Lead Director. "He has done an outstanding job and we look forward to his continued contribution to Calian as our full time chairman in this planned succession". Mr. O'Brien founded Calian in 1982 and has overseen the growth of the company since inception. "It has been an honor and privilege to serve the shareholders of Calian and work with the best and brightest management team in our industry", stated Mr. O'Brien.
"Ray will be an excellent CEO. The outstanding leadership he has shown over the past four years while we restructured the company has propelled Calian to record levels of profitability and growth. He is well equipped to manage the continued growth of our company and has earned the respect of our employees and customers alike", stated Mr. O'Brien. "Following over 15 years of working with Larry under his superb leadership, I look forward to continuing to work together in our new roles", said Mr. Basler. "The opportunities in front of our company are tremendous. Driven by the strength of our management team and with Larry as Chair, I am confident we will turn these opportunities into continued success for Calian", said Ray Basler.
A chartered accountant, educated at the University of Saskatchewan, Ray Basler was promoted to President of SED in 1998 and to President & COO of Calian in 2002.
Calian Technology Ltd. (TSX:CTY) sells technology services to industry and government in Canada and around the world. Calian provides customers with ready access to an exceptional team of engineers, telecommunications and technology professionals, and other highly qualified staff. The Business and Technology Services Division augments customer workforces with flexible short and long-term placements, recruitment and outsourcing of engineering and other skilled professionals. The Systems Engineering Division plans, designs and implements solutions for many of the world's space agencies and leading communications satellite manufacturers and operators, as well as providing contract manufacturing services for customers in North America.
For further information, please contact us at
Chairman and Chief Executive Officer
Certain information included in press releases on this site is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as "intend", "anticipate", "believe", "estimate", "expect" or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on firm fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company's most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.
Information posted on this website was accurate at the time of posting, but may be superceded by subsequent information.