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GSI TECHNOLOGIES USA INC. Announces Management Team and

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ICEMAN1CO   Wednesday, 03/28/07 05:15:28 AM
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GSI TECHNOLOGIES USA INC. Announces Management Team and Board of Directors Appointments
Business Wire, Feb 16, 2001

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GSI TECHNOLOGIES USA...

Business Editors

MONTREAL--(BUSINESS WIRE)--Feb. 16, 2001

GSI (OTCBB:GSITB)

Mr. J. Michel de Montigny, Chairman, President and Chief Executive Officer, is pleased to announce the following management changes and two new appointments to the Board of Directors:

Mr. James A. Hone, who has served as the Company's Chief Financial Officer since its founding in 1999, takes on a new mandate as Special Advisor to the CEO. In this capacity, he will focus on several key strategic projects related to the integration of GSI's affiliated entities and to long-term financing. He will continue to guide the Company's business planning process and assist Management and the Board in the institution and maintenance of effective corporate governance practices. He continues to serve as a member of the Board of Directors.

Mr. Colin G. Fraser, a consulting associate of Mr. Hone, will assist him in his new mandate at GSI. He is 55 and has extensive experience in financial management, including financial accounting, forecasting and auditing, and treasury management of multi-national organizations. On graduation he worked with Deloitte's in London, England. From 1971 to 1989, he was with Consolidated Bathurst, being appointed Treasurer in 1982. In 1989 Mr. Fraser established a financial consulting firm taking on mandates in the areas of project financing, management buy-outs, and financial planning. From 1992 to 1993 he served as Treasurer of Abitibi-Price, now Abitibi-Consolidated, the major forest products company. Another key mandate was as Chief Financial Officer of Telecite Inc., a communications technology company based in Montreal. He was instrumental in the process leading to the sale of the company in 1999 to Alstom, a major French multinational.
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Mr. Fraser is a member of the Institute of Chartered Accountants of Scotland, and a past associate member of the Institute of Taxation. He completed business studies at Edinburgh University (1965-66), the executive training program at McGill University (1973-74), and financial management courses of the Canadian Management Centre (1976-77).

Mr. Sylvain Ethier, C.A. is appointed interim Chief Financial Officer. He is 37. A founding partner in the accounting firm of Pontbriand, Roy, Ethier, and a member of the Order of Chartered Accounts of Quebec, he qualified as a chartered accounted in 1987. The firm serves mainly small and medium-sized businesses. He was an audit team leader with Adam Authier Boyer from 1985 to 1987 and with Ernst & Young from 1987 to 1992. He is a past President of the Association of Businesspeople of St-Hubert and member of the Board of Directors of the South Shore Chamber of Commerce.

A graduate of the University of Quebec, he has completed his B.S. in accounting in 1985.

Dr. Jean-Paul Cajolais, Vice President Marketing & Director of Operations USA, joins the Board of Directors. Based at the Company's headquarters in Orlando, Florida, Mr. Cajolais' primary responsibility is developing the market for the Company's products and services in the United States. Prior to joining GSI in early 2000, he managed and was a consultant to institutions of higher learning.

More recently, Dr. Cajolais has been a consultant for HUD in Washington, DC, coordinating training and employment services. He is currently Chairman of the Programs' Committee of the Mid-Florida Tech College, Chairman of the Orlando International School, Board Member of the Orlando International Fashion Academy, Board Member of the Disadvantaged Population Advisory Committee, Director of the Central Florida Drug Information Group and Board Member of the Center for Drug Free Living. Dr. Cajolais is also Notary Public for the State of Florida and the Province of Quebec International Court Appointee, Designated Official of the United-States Department of Justice (Immigration and Naturalization Services) and Arbitrator for the Better Business Bureau.

Mr. Cajolais is a graduate of the University of Montreal with a Ph.D. in Education (Instructional Design) and a Masters Degree in Business Education (Business and Industry training). He is 61.

Mr. Rene Arbic, President of Bridgepoint International Inc., joins the Board of Directors. He is 47. On retiring in 1997 after a 25-year career in operations and sales with Bell Canada and Stentor, the former Canadian alliance of telecommunications carriers, he launched a successful telecommunications consulting firm. He then co-founded Bridgepoint International, a rapidly growing innovator in the field of shared networking facilities, voice and date switching, and local technical support. Bridgepoint centers are currently in operation in Montreal, Toronto, Calgary, and Vancouver, as well as in New York and Los Angeles. The Company is now listed on the Toronto Stock Exchange and plans to expand in internationally.

"These additions to our team will strengthen GSI for the challenges that lie ahead. Mr. Ethier and Mr Fraser bring their extensive experience in accounting and financial management to GSI at this important time in the Company's evolution as a multinational. In joining me, Mr. Hone, and Mr. Cote on the Board, we also are delighted to have the benefit of the wealth of varied business experience Messrs. Cajolais and Arbic bring to GSI. As we face the challenges of a dynamic, rapidly evolving enterprise and continue to expand internationally, we are committed to building the strongest management team possible," said Mr. de Montigny in making the announcement.

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