(Ottawa Ontario, Canada--December 2, 2013) International Datacasting Corporation (TSX:IDC) (“IDC” or the “Company”) announced today the appointment of new executives to key Company functions. The changes include a new Chief Financial Officer and Vice President of Products, as well as a restructuring of IDC’s global Sales force. The restructuring will increase IDC’s responsiveness to opportunities in rapidly-growing emerging markets and position the Company for increased success in those markets.
Steven Archambault, IDC’s new CFO, is a seasoned finance executive with over 15 years experience in financial reporting and accounting, internal controls, treasury, corporate income taxes, and financial system implementations. Archambault has served as IDC’s Director of Finance and Treasury since 2012, and is highly knowledgeable regarding the Company’s operations. At IDC, he has led the introduction of new systems for budgeting and financial planning, and has worked with the management team to develop innovative commercial offers for customers. Archambault’s experience includes service at Ernst & Young LLP as an audit manager, and more recently senior finance roles with a NYSE-listed reinsurance company. He is a Chartered Accountant in Canada and a Certified Public Accountant (Illinois) in the United States, and holds a Bachelor of Commerce (Honors) degree from the University of Ottawa. Archambault will continue to be located in Ottawa and his new role is effective immediately.
IDC’s outgoing CFO, Rick Clements, will continue at IDC until January 31, 2014 in order to support a smooth transition of responsibilities. Clements will also be available to IDC on a consulting basis after his departure to provide support as required.
Graham McBride, Chairman of IDC’s Audit Committee, stated “Steven Archambault is an excellent choice as our new CFO, and the Board of Directors has full confidence that he’ll lead the finance function in an exemplary way. We look forward to working closely with him.”
Steeve Huin, IDC’s new Vice President of Products, joins IDC from Irdeto. Huin has extensive experience in software engineering, architecture, product management, and product marketing. Most recently, he was Irdeto’s Senior Product Director, where he held responsibility for Conditional Access, overseeing a global product line serving industry leading Pay TV Operators and Broadcasters. Huin has led the introduction of innovative new products, including a highly successful software security solution for broadcast networks. He holds a Software Engineering degree from the Ecole Nationale Supérieure d'Electronique, Informatique et de Radiocommunications in Bordeaux, France and has lived and worked in France, the Netherlands, the USA, and China.
Walter Capitani, previously IDC’s VP of Product Management, has been named Vice President of Marketing. Capitani’s new responsibilities include strategic marketing, business development, and marketing communications. He recently coordinated a full review of IDC’s strategy and product lines, and will lead the development of industry partnerships and strategic relationships. He will also assist the CEO and IDC’s Board of Directors in evaluating potential opportunities for non-organic growth by IDC.
Commenting on the appointments, Doug Lowther, President and CEO of IDC stated, “I’d like to congratulate Steven Archambault and Steeve Huin on joining IDC’s executive team, as well as Walter Capitani on his new role. I’ve worked closely with each of them, and believe they will contribute substantially to the progress of IDC. The combination of Steven, Walter and Steeve in their respective roles will enable IDC to simultaneously maintain a strong focus on both strategy and execution. At the same time, I’d like to commend Rick Clements on his substantial contributions as IDC’s CFO and to personally thank him for his support throughout the selection and transition process.”
New Sales Organization targets Emerging Market growth
IDC also announces the reorganization of its global Sales force. IDC’s Sales teams will be structured on a regional basis, allowing increased delegation of authority, faster decision making, and more effective interactions with customers, partners, and resellers. The new organization will place more emphasis on fast-growing emerging markets, which offer strong opportunities to IDC.
The executives responsible for each sales region will be as follows:
Peter Neuman, Regional Director, Americas. Neuman recently joined IDC from Hansen Technologies, where he was head of Sales for the Pay TV business segment. He has also served at industry-leading companies such as Irdeto, Liberty Global, DirecTV, and Hughes Communications. Neuman will oversee IDC’s business in the Americas and lead efforts to expand IDC’s presence in Latin America.
Berry Eskes, Regional Director, EMEA North. Eskes joined IDC in 2005 with the Company’s acquisition of PROFLine, where he was Director of Sales, and has led the Company in winning several major network deployments in recent years. In addition to driving IDC’s sales in Northern and Eastern Europe, he will focus on developing markets and acquiring new customers in the Middle East, Russia, and the former CIS countries.
Berend Blokzijl, Regional Director, EMEA South. Blokzijl joined IDC in 2008, and has driven strategic sales of products such as Digital Cinema across Europe. He was previously International Sales Manager at Xantic where he built a distribution network in Southern Europe and Africa, and while based in the UK he also developed channel sales in Western Europe. At Novell Netherlands, he re-built and substantially increased service revenues. He will lead IDC’s sales in Western and Southern Europe, and in addition will focus on acquiring new customers in the rapidly growing African market.
Doug Pierce, Regional Director, Asia-Pacific. Pierce recently joined IDC from httv, a French supplier of Digital TV technology and solutions, where he held sales responsibility for Asia-Pacific. His previous roles included VP and General Manager of Asia-Pacific at Advanced Digital Broadcast, as well as several roles in both Asia and the USA at Texas Instruments. Doug will develop IDC’s direct and distribution sales capabilities across all of Asia-Pacific.
Virginia Lee Williams, previous VP of Global Sales, has decided to pursue opportunities outside of IDC. Doug Lowther will serve as Interim VP of Global Sales in addition to his other responsibilities as President and CEO.
Commenting on the new Sales organization, Doug Lowther stated, “Our new regional structure will help IDC build even closer relationships with our customers, as well as increase focus on rapidly-growing emerging markets. These markets currently represent about 20% of IDC’s sales, and our objective is to increase this substantially. All four regional directors have extensive experience and deep relationships in their territories, and each will play a key role in developing new markets for IDC’s products and solutions. I’d also like to thank Virginia Lee Williams for her service to IDC and wish her well in her future endeavors.”
Upcoming Shareholder Communications
The Board of Directors will be reviewing IDC’s strategy and business plan in December, and the Company plans to update shareholders on the results of that work before the start of the new financial year. The update will focus on plans currently being developed to improve performance in product quality, new product introduction, and closure rate for sales opportunities.
This press release contains certain information that may constitute “forward-looking information” and/or “forward-looking statements” within the meaning of applicable Canadian securities laws. All forward-looking information and forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. All statements other than statements which are reporting results as well as statements of historical fact are forward-looking statements that may involve a number of known and unknown risks, uncertainties and other factors; many of which are beyond the ability of IDC to control or predict.
Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan or “project” or the negative of these words or other variations on these words or comparable terminology. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Risk factors that might cause actual results to differ materially include, but are not limited to: competitive developments; risks associated with IDC’s growth; expectations regarding new product initiatives and timing, including the STAR Pro AudioTM Solution, LASER™ Targeted Ad Insertion Platform and Digital TattooTM DTH Over IP Gateway; any difficulties with integrating acquisitions, including acquired product lines, into IDC’s business and/or manufacturing procedures; any difficulties or disputes with IDC’s subcontractors, contract manufacturers and suppliers; IDC’s dependence on the development and growth of the satellite services market; a lengthy and variable sales cycle for IDC's products and services; IDC’s reliance on a small number of customers for a large percentage of its revenue; expectations with respect to the sufficiency of its financial resources and liquidity; regulatory risks and intellectual property infringement.
More detailed information about potential factors that could affect IDC’s financial and business results is included in the public documents IDC files from time to time with Canadian securities regulatory authorities (including, without limitation, IDC’s Fiscal 2013 MD&A dated April 29, 2013) and which are available on SEDAR at www.sedar.com,
Except as expressly required by applicable law, we undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are provided to assist external stakeholders in understanding IDC’s expectations as at the date of this release and may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on such statements.