Circa Enterprises Inc. - News Release - Resignation of Chairman and CEO and Appointment of Interim CEO
CALGARY, Oct. 17, 2013 /CNW/ - Circa Enterprises Inc. ("Circa" or the "Corporation") announces the resignation of Mr. Ivan Smith as Chairman and CEO and the appointment of Mr. Grant Reeves as Interim Chief Executive Officer.
After 27 years with Circa, 23 in the role of Chief Executive Officer, Ivan Smith is resigning his position as Chairman and CEO of the Company, effective October 17, 2013. Mr. Smith will continue as a Director of Circa.
Mr. Smith was one of the founders of Circa Enterprises and was instrumental in the growth of the Company into one of the key suppliers in the North American surge protection business. In 2002, Circa was recognized as winner of the Ernst & Young Entrepreneur of the Year for Technology and Manufacturing.
Effective the same date, Mr. Grant Reeves is appointed Interim Chief Executive Officer and Mr. Peter Bourgeois is appointed Chairman. Both Mr. Reeves and Mr. Bourgeois are members of the Board of Directors of Circa.
Mr. Reeves is a Senior Vice President with the InterTech Group, Inc. where he has served for the past 27 years as a manufacturing and financial executive with merger and acquisition, corporate finance and strategic planning experience.
Mr. Reeves was Chairman of Galvanic Applied Sciences Inc. until August 2013. Mr. Reeves had also previously served in the capacity of CEO of Galvanic. Galvanic, based in Calgary, Alberta, that designs and manufactures analyzers and measurement equipment for the natural gas and process industries.
"As the Company's founder, we are grateful for Ivan's many years of service and leadership that positions Circa for a bright future. Going forward we intend to expand our markets while we explore strategic opportunities to grow the business," said Mr. Reeves.
Circa Enterprises Inc. is a public company with operations in Alberta, Ontario and Florida. The outstanding common shares of Circa Enterprises Inc. are listed and trade on the TSX Venture Exchange under the trading symbol CTO. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Circa Enterprises Inc.