Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! |
Gaming News
DCTI Announces Resignation of James A. Egide as Chairman, Director18 August 2000PARK CITY, Utah — (Press Release) -- Digital Courier Technologies, Inc. (Nasdaq: DCTI), a leading provider of advanced e-payment services specializing in fraud and risk management, today announces that on August 15, 2000, the Board of Directors accepted the resignation of James A. Egide as Chairman of the Board and Director. Kenneth M. Woolley, a Director of the Company since 1995, was elected to the position of Chairman of the Board. Ken M. Woolley currently holds the position of Chief Executive Officer of Extra Space Storage and has been a director of several high technology companies including: Megahertz Holding Corporation, Vystar Group, Inc. and Cirque Corporation. An esteemed business professional, Mr. Woolley also serves as an adjunct professor of business management at Brigham Young University, and holds a B.A. in Physics from Brigham Young University, and an M.B.A. and a Ph.D.in Business Administration from the Stanford University Graduate School of Business. In addition, Becky H. Takeda, Chief Operating Officer of the Company, was elected to fill the vacancy on the Board. Ms. Takeda is DCTI's Chief Operating Officer, responsible for all day-to-day operations including sales, support, engineering, operations, and marketing. Her education includes a B.A. in Economics from U.C.L.A., graduate marketing work at U.C. Berkeley, and a M.B.A. in Finance from Santa Clara University. The Company also announced that it recently discovered the apparent existence of undisclosed interests held by certain of the Company's insiders and related parties in DataBank International Ltd., which the Company acquired in October 1999. The Company has appointed a Special Committee of disinterested directors to review the situation and has retained Munger, Tolles & Olson LLP of Los Angeles to assist the Special Committee and the Company in conducting a thorough investigation into the matter. In connection with this investigation, approximately 8 million shares of the Company's common stock have to date been returned to the Company by certain of the previous owners of DataBank and the Board has received commitments regarding the return of additional shares. |