EIDC Appoints Michael J. Bennett as Chief Financial Officer

Finance and Operations Veteran Brings Broad Skills and Experience to Nonprofit

Aug 11, 2005, 01:00 ET from The Entertainment Industry Development Corporation (EIDC)

    HOLLYWOOD, Calif., Aug. 11 /PRNewswire/ -- The Entertainment Industry
 Development Corporation (EIDC) -- a private nonprofit that coordinates
 on-location entertainment production for the City and County of Los Angeles --
 today announced the appointment of Michael J. Bennett as its chief financial
 officer.  In his new post, Bennett will oversee all activities involving the
 agency's finance, human resources and information technology.
     Bennett joins EIDC with nearly three decades of senior level management
 experience in both the nonprofit and commercial sectors.  He has worked with
 start-ups and large publicly-traded companies in industries ranging from
 consumer electronics and medical devices to family counseling/psychotherapy
 services.  He replaces interim CFO Denise Gutches, who has served on EIDC's
 management team since 2004.
     "Michael will be a terrific asset," said EIDC President Steve MacDonald.
 "His unique skills and expertise are ideally suited to this position, and will
 help EIDC fulfill its mission of serving the entertainment industry and the
 community at-large."
     Bennett previously served as chief operating officer of Interface Family
 Services (Camarillo, Calif.), the largest nonprofit provider of domestic
 violence intervention and family psychotherapy services in Ventura County.
 During his tenure, he reduced operating expenses significantly, while
 developing financial controls to ensure billing consistency, accuracy and
     He also served as vice president of finance and chief financial officer of
 PS Medical (Santa Barbara, Calif.) -- a global leader in implantable medical
 devices to treat neurological disorders.  He was instrumental in the company's
 1995 merger with Medtronic, spearheading the merger and due diligence process
 with the Fortune 500 company. During his 12 years at PS Medical and the newly
 named Medtronic Neurosurgery division, Bennett instituted financial controls
 and fiscal policies to boost operating profit.  He was also appointed chairman
 of the company's Business Ethics Committee.
     Earlier experience includes serving as controller of disk storage
 manufacturer IBIS Systems (Westlake, Calif.), manager of financial controls
 for stereo component maker JBL/Infinity Systems (Northridge, Calif.) and
 manufacturing cost accounting supervisor for Becton Dickson Labware (Oxnard,
     About the Entertainment Industry Development Corporation (EIDC)
     EIDC is a private, one-of-a-kind 501c(4) nonprofit corporation working on
 behalf of film, television and commercial producers, Los Angeles area
 residents and local government to sustain Los Angeles' position as the global
 leader in media production. EIDC is not a government agency, but holds
 contracts with several cities and other government agencies to facilitate
 filming.  More information about EIDC is available at www.eidc.com.

SOURCE The Entertainment Industry Development Corporation (EIDC)