Destiny Media Technologies Announces Changes to Management Team
VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 11, 2001-- Destiny Media Technologies, Inc. (OTCBB: DSNY - news) is pleased to announce the appointment of Mr. David Lawrence as CEO of the company.
Mr. Lawrence will join the company on an interim basis and will help build the sales and marketing infrastructure needed to fully exploit Destiny's suite of streaming and media distribution products.
The current CEO and founder of the company, Steve Vestergaard, will remain on as President and Chief Technology Officer.
``Mr. Lawrence brings to Destiny a solid track record in sales and business development'', states Destiny President, Steve Vestergaard. ``Of key importance to Destiny is the success he enjoyed as co-founder of the hardcover book distribution company, Reading's Fun Ltd.''
Mr. Lawrence was responsible for building the sales organization, bottom line revenue generation, strategic deployment of resources and recruiting and product development of Reading's Fun Ltd. Launched in November of 1990, the company's revenues grew at the rate of 225% annually for five years. In 1999, with annual sales well above $200 million, the company was renamed ``Books are Fun'' and sold to Reader's Digest for $380 million US.``I can not think of a better opportunity than this to lend my skills to'', says Mr. Lawrence about his new role with Destiny. ``The technology that Destiny has developed is leading edge and they have positioned themselves to take advantage of some key market opportunities. The technology speaks for itself and is now gaining market adoption. It is our job now to take full advantage of this opportunity. My objective is to help move this company to its next stage of growth. The sustainable level at which Destiny has chosen to operate over the past three months has been exactly what was needed. Destiny is now focused and ready to build out its sales force. It is time to fulfill the promises to our shareholders''.
Destiny also announces that Mark Lotz, the CFO has resigned to pursue a position as CFO of Golden Capital Securities. The company is sorry to see Mr. Lotz leave and wishes him the best in his new endeavors. Mr. Lotz will provide part time consultant services to Destiny and the company's corporate secretary will assume responsibilities until a new CFO is appointed.
About Destiny Media Technologies, Inc.
Destiny Media Technologies, Inc. (http://www.dsny.com) is a leader in developing easy-to-use tools and enabling technologies to distribute digital media through the Internet. The company's suite of streaming and downloadable products includes: MPE™ (http://www.destinympe.com), a complete, secure media distribution system that provides e-commerce and digital rights management directly from within an MP3-compatible multimedia file; Clipstream™ (http://www.clipstream.com), a java-based tool which enables web pages, e-mail and banners to stream audio without the use of a player; Video Clipstream™ (http://www.videoclipstream.com), a technology for embedding streaming video into a web page or e-mail; and the RadioDestiny Broadcaster™ (http://www.radiodestiny.com), which allows a user to webcast live or scripted internet radio from a computer to anyone on the Internet. Established in 1991, the company is headquartered in Vancouver, Canada.
For more information contact:
|Destiny Media Technologies, Inc.|
President & CEO
Destiny Media Technologies, Inc.
604-609-7736 ext. 222