ST. PAUL, Minn., Nov. 19 /PRNewswire/ -- XOX Corporation (Nasdaq: XOXC) today announced that Steven B. Liefschultz, Bernard J. Reeck, Richard L. Fast and John M. Sherbin II have joined XOX's board of directors. Dirk McDermott and Robert Mars Jr. resigned due to time constraints. Concurrently, Liefschultz was appointed chairman of XOX's board of directors, replacing Mercil as chairman. Reeck, Mercil and Thomas Lucas, a current board member of XOX, were appointed vice chairmen of the XOX board of directors. Mars has agreed to serve on an advisory committee to the board. Mercil was appointed interim chief executive officer, president, and chief financial officer of XOX until a suitable replacement can be found. Dr. Pradeep Sinha, who had been acting in that capacity, will remain a board member, vice president of research and chief technical officer. Liefschultz is chairman of the Remada Company, a successful real estate management company in Minnesota. Prior to this, Liefschultz practiced law for 12 years, specializing in commercial litigation, contract negotiation and commercial real estate. He has extensive experience in the ownership and management of income real estate and other areas of investment. In addition to his normal duties as chairman, Liefschultz has agreed to provide additional services on behalf of XOX and its board. These services include, among others, consultation related to strategic planning and financing strategy, evaluation of strategic alliance opportunities, review and negotiation of customer contracts, and consultation related to acquisitions, mergers, and divestiture. Mercil was previously the equity fund manager of Minnesota Technology, Inc. (MTI), an equity investment fund specializing in Minnesota technology companies. MTI granted Mercil a leave of absence to be employed at XOX on an interim basis. Mercil has more than 13 years of experience assisting in the strategic development and growth of public and private companies. He rejoined XOX's board last August after previously serving from 1993 to 1995. Reeck is the president of Group Services Corporation, which has interests, among others, in the oil and gas industry, and of The Cellars Wines & Spirits Inc., a chain of retail liquor stores in Minnesota. He has also been involved in numerous real estate transactions since 1975. He is a retired managing editor of West Publishing Company. Fast has held several executive-level positions in national and international manufacturing and product design throughout his 20-year career with Medtronic, Inc. Currently, Fast is a member of the investment group of Minnesota Technology, Inc., which includes its Equity Fund Program, as well as its Technology Development Program for emerging growth programs. Sherbin has been chief financial officer, vice president, finance and administration, secretary and treasurer of ANSYS, Incorporated (ANSYS) since May 1994. Prior to joining ANSYS, Sherbin was chief financial officer and treasurer of II-VI, Incorporated, an infrared materials and electro-components manufacturer, from February 1986 to May 1994. Sherbin also serves on the board of Applied Electro-Optics, Incorporated, a laser scanner and systems company. Commenting on the new board members, Dr. Pradeep Sinha, XOX director and co-founder, said, "We are pleased to have these distinguished businessmen who have substantial investment interests in XOX join our board and our company. They bring a wealth of diverse business experience as XOX focuses on achieving profitability by concentrating on developing specialized software for the geosciences and other technical industries." Based in St. Paul, Minn., XOX Corporation develops specialized geometry software and licenses it as an enabling technology software component to applications software developers in the geosciences, CAE, scientific visualization and medical imaging industries. More than 15 applications companies are currently developing applications based on the company's SHAPES geometric computing system. For more information, visit XOX's website at http://www.xox.com.
SOURCE XOX Corporation