Devcon International Corp. Announces Management Reorganization
30 Abril 2007 - 9:20PM
PR Newswire (US)
BOCA RATON, Fla., April 30 /PRNewswire-FirstCall/ -- Devcon
International Corp. (NASDAQ:DEVC), a leading regional electronic
security services provider, announced today that Robert W. Schiller
will serve as the company's new Chief Financial Officer effective
immediately. Robert Farenhem, who has been serving as Chief
Financial Officer since February 2007 will replace Ron Lakey as
President. The company also announced that Keith Godsey has been
promoted from Vice President to President of Devcon Security
Services Corp. Mr. Lakey will continue to serve Devcon in an
advisory role to address the few remaining transition items
relating to the recent sale of the company's Construction
Division's fixed assets. He will also assist with certain legal
issues and the disposition of Devcon's remaining Materials Division
operation in Sint Maarten/St. Martin and work with our Electronic
Security Services Division on back-office integration and process
reengineering projects. Richard Rochon, Acting CEO stated, "We are
delighted to have Robert Schiller join our team; he is most capable
and everyone at Devcon will benefit from his experienced
leadership. We would also like to thank Ron Lakey for his service
over the past two years, his contributions have been invaluable."
Mr. Schiller previously served in various capacities at NationsRent
from 1999 through 2006, including most recently as Vice President,
Controller. From 1989 through 1999 Mr. Schiller served in Regional
Controllership and Director of Internal Audit capacities with OHM
Remediation Services Corp. which was acquired in 1998 by IT Group,
an Environmental Services firm located in Trenton, New Jersey.
Robert is also a certified public accountant with big four public
experience. About Devcon Devcon has two operating divisions. The
Security Division provides electronic security services to
commercial and residential customers in selected markets. The
Materials Division produces and distributes crushed stone,
ready-mix concrete and concrete block on St. Maarten in the
Netherlands Antilles and on St. Martin in the French West Indies.
Forward-Looking Statements This press release may contain
statements, which are not historical facts and are considered
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements contain projections of Devcon's future results of
operations, financial position or state other forward-looking
information. In some cases you can identify these statements by
forward-looking words such as "anticipate," "believe," "could,"
"estimate," "expect," "intend," "may," "should," "will," and
"would" or similar words. You should not rely on forward-looking
statements because Devcon's actual results may differ materially
from those indicated by these forward-looking statements as a
result of a number of important factors. These factors include, but
are not limited to: general economic and business conditions; our
business strategy for expanding our presence in our industry;
anticipated trends in our financial condition and results of
operation; the impact of competition and technology change;
existing and future regulations effecting our business, and other
risks and uncertainties discussed under the heading "Item 1A - Risk
Factors" in Devcon's Annual Report on Form 10-K for the period
ended December 31, 2005 as filed with the Securities and Exchange
Commission, and other reports Devcon files from time to time with
the Securities and Exchange Commission. Devcon does not intend to
and undertakes no duty to update the information contained in this
press release. DATASOURCE: Devcon International Corp. CONTACT: Stan
Smith, +1-561-955-7300, , for Devcon International Corp.
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